Pakistan Stock Exchange index soars above 118,000 points
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Share prices at Pakistan Stock Exchange (PSX) continued to perform well as the index on Monday gained more than 770 points amid recent positive economic indicators and falling global oil prices, reported 24NewsHD TV channel.
During opening session of the trading, the PSX’s benchmark KSE-100 Index surged by 777.45 points or 0.66 points to reach 118,093.03 points.
Of the 403 companies traded so far, the share prices of 236 companies went up, 156 went down while 16 remained unchanged.
Economic experts said that optimism of investors got a shot in the arm after respite in tariffs announced by the US president. Prime Minister Shehbaz Sharif’s successful visit to Belarus also sent positive signals.
Meanwhile, surge in foreign remittances and other positive indicators announced by State Bank of Pakistan Governor Jameel Ahmad contributed to healthy trade at the PSX.
On Friday, the KSE-100 index had gained 414 points to close at 117,315 points.
The rally was also supported by a rise in cement prices, which bolstered investor interest in that sector.
Other significant turnover stocks included Cnergyico PK, Fauji Cement, National Bank XD, WorldCall Telecom, Pace (Pak) Ltd, Sui South Gas, Hascol Petrol and United Bank.
In the futures market, 309 companies recorded trading, 163 of which increased, 136 decreased, and 10 remained unchanged.
Reporter: Basim Iftikhar