Pakistan Stock Exchange surges by 266 points

By: News Desk      Published: 05:27 PM, 1 Sep, 2020
Pakistan Stock Exchange surges by 266 points

The share market started the new month on a positive note as the KSE-100 Index ended the session at 41,377.26 after a gain of 266.33 points.

A total of 371,739,815 shares of 374 companies changed hands during a day where the share prices of 232 entities were up and of 120 down with no change in the value of 22.

Earlier on Monday, the Pakistan Stock Market closed August a net gain of 1,852.49 points during the month. In July, the index was up by 4,836.92 points. 

Hence, the market has managed to cut the losses suffered earlier in March when the index was down by over 10,000 points. The next three months saw some progress but there was nothing significant. However, the market regained confidence and started moving in the right direction in July and August.

The financial sector minus the commercial banks was again the biggest gainer on Tuesday with seven of the top performers in terms of their share prices. On Monday, eight of such companies were from the financial sector.

It was the SME Leasing Limited whose share prices was up by 23.36 percent. The next three on the list were: First Dawood Investment Bank Limited, Modaraba Al-Mali and Saudi Pak Leasing Company Limited. 

The Saudi Pak Leasing Company Limited was the top gainer on Monday with a 33.33 percent increase in its share price. It made another 17.97 percent gain on Tuesday.

However, Power Cement (R) had another poor day with a 20 percent cut in its share price just a day after suffering a loss of 66.67 percent. Meanwhile, the share prices of KASB Modaraba and Unicap Modaraba were down by 8.33 percent and 7.89 percent respectively.

As far as the most active stocks are concerned, the Unity R2 had its 91,235,500 shares traded followed by 47,453,000 of Pak Elektron Limited and 45,769,500 of Unity Foods Limited.