Stock Market has broken previous record of new daily-traded volume: Asad Umar

KARACHI: Federal Minister for Planning Asad Umar announced has that the Pakistan Stock Exchange (PSX) has reached new heights after it broke its previous record of new daily-traded volume.

On a social media website Twitter, the minister said, “New daily traded volume record set on the Pakistan Stock Exchange. Today’s volume exceeded the previous record by 39%,” tweeted Umar after daily trading ended at the PSX.

He said that the record was an indicator of the market’s “reacting to signs of sustained recovery”. The successful containment of the COVID third wave…though risk still remains…also adding to positive sentiment,” added Umar.

New daily traded volume record set on the pakistan stock exchange. Today's volume exceeded previous record by 39 %. Market reacting to signs of sustained recovery. The successful containment of the covid 3rd wave..Though risk still remains.. Also adding to positive sentiment

— Asad Umar (@Asad_Umar) May 26, 2021

The Pakistan Stock Exchange (PSX) recorded an all-time high daily trading volume, with Planning Minister Asad Umar attributing the development to the market reacting to signs of sustained economic recovery.

The capital markets remained positive throughout today’s session as a variety of positive developments increased investors’ risk appetite, registered by a record high traded turnover of 1.56 billion shares.

The Pakistan Stock Exchange (PSX) continued to head north for 3rd consecutive day on Wednesday, with the indices accumulating gains all day long amid positive sentiments.

The KSE 100-index of the PSX today continued with a bullish trend, gaining 511.65 points, with a positive change of 1.11 percent, closing at 46,812.31 points against 46,300.66 points on the last working day.

A total of 1,563,360,922 shares were traded during the day compared to the trade of 677,381,398 shares the previous day whereas the price of shares stood at Rs28.338 billion against Rs23.505 billion the previous day.

As many as 423 companies transacted shares in the stock market, 284 of them recorded gain and 125 sustained losses whereas the share price of 14 companies remained unchanged.

The three top traded companies were WorldCall Telecom with a volume of 707,728,500 shares and price per share of Rs2.28, Hum Network with a volume of 112,493,500 and price per share of Rs6.81 and Unity Foods Ltd with a volume of 45,126,446 and price per share of Rs43.68.

Unilever FoodsXD witnessed a maximum increase of Rs927.04 per share, closing at Rs16599 Wyeth Pak Ltd was runner up, share prices of which increased by Rs138.26, closing at Rs1981.84.