The Pakistan Stock Exchange (PSX) maintained its bullish momentum on Wednesday, recording notable gains amid optimism over a potential de-escalation in the Middle East conflict, reported 24NewsHD TV channel.
During intraday trading, the PSX administration halted the trading for one hour after the PSX’s benchmark KSE-100 index soared five percent. The index surged by over 7,461.58 points to 156,204.89 points or 4.78 percent before the authorities suspended the business.
The trading resumed after the one-hour break and the sentiments remained bullish with the index gaining about three hundrend more points.
At the end of the day, the index finally settled at 155,511.56 points up by 6,768.25 points or 4.35 percent.
Out of 566 active companies in the ready market, 365 advanced, 67 declined, and 134 remained unchanged.
On the global front, stocks and bonds rallied and the dollar wallowed at the start of the Asian trading session on Wednesday on hopes of a de-escalation in the Iran conflict, while significantly better-than-expected economic data for March propelled a rebound in Korean and Japanese shares.
Earlier on Tuesday, the KSE-100 Index staged a turnaround, gaining 1,900.34 points, a positive change of 1.29 percent, closing at 148,743.32 points.
During the session, the ready market recorded a trading volume of 434.958 million shares with a traded value of Rs 22.541 billion, compared to 529.130 million shares valuing Rs 29.603 billion in the previous session.
The market capitalization increased to Rs 16.534 trillion from Rs 16.327 trillion a day earlier.
Out of 479 active companies in the ready market, 281 advanced, 137 declined, and 61 remained unchanged.
Reporter Baseem Iftikhar