Bulls run riot at Pakistan Stock Exchange
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Bulls run riot at Pakistan Stock Exchange (PSX) on Thursday with buyers’ brisk purchases lifted the market by over 900 points, reported 24NewsHD TV channel.
The benchmark KSE-100 index surged by 931.31 points or 1.12 percent to 82,898.31 by noon, nearing to achieve another milestone of smashing 83,000 barrier.
The thrust was backed by solid corporate earnings and optimistic sentiment on economic front. The lead from the rising high was led by the likes of banking, cement, and energy sectors among others which saw significant gains.
On Wednesday, the Pakistan Stock Exchange had witnessed a mixed trend and after moving in both directions, closed on slightly positive note due to fresh buying in some stocks.
The benchmark KSE-100 Index hit 82,360.29 points intraday high and 81,529.45 points intraday low before closing at 81,967.01 points, up 162.41 points or 0.20 percent.
Trading activity slightly improved as daily volumes on ready counter increased to 360.987 million shares as compared to 359.081 million shares traded on Tuesday. The daily traded value on the ready counter declined to Rs 15.391 billion against previous session’s Rs 17.160 billion.
Reporter Ayyaz Rana