Pakistan Stock Exchange witnesses see-saw trading
Bulls continued to roar at Pakistan Stock Exchange on Tuesday as the KSE-100 index smashed the psychological barrier of 40,000 in early trading however at the closing time it reached 39,577.62 after losing 293.99 points (-0.74%), reported 24NewsHD TV channel.
The share volume reached 377,254,974 at the closing time. As the market opened on Tuesday morning, brokers rushed to buy stocks maintaining the positive spree witnessed during the whole last week and also a day before on Monday.
Share prices picked up where they left on Monday as they recorded a gain of 210 points in early trading Tuesday, taking the KSE-100 index to 40,086.
Also on Monday, the bulls led the market to climb up by 613 points closing at 39,871.61 (1.56%).
Earlier, a bullish trend was witnessed at the Pakistan Stock Exchange on last trading day of July (30 July) as the KSE-100 Index closed the session at 39,258.44 after a gain of 422.17 points.
The last working day before the Eid holidays saw the trading of 261,485,681 shares. The share prices of 212 companies were up and that of 132 shed some of their values. However, there was no change in the share prices of 19 companies.
It marked an eventful end to a profitable month for the stock market as the KSE-100 Index gained 4,836.52 points during the period, making it the best streak of gains in the current year after the worst southward movement it experienced in March.
On Thursday, it was Pakistan International Bulk Terminal Limited which remained the most active stock with 43,308,500 shares being traded. It was followed by TRG Pakistan Limited and Pak Elektron Limited with 27,910,000 and 18,067,000 shares respectively.
As far as the biggest gainers are concerned, the top three companies were from the textile sector. Leading the list was JA Textile Mills Limited whose share price was up by 28.05 percent. The next two companies were Samin Textiles Limited 16.46 percent and Quetta Textile Mills Limited 14.66 percent.