Share prices soared at the Pakistan Stock Exchange (PSX) on Thursday amid renewed buying interest showed by the investors, reported 24NewsHD TV channel.
The benchmark KSE-100 index surged by 1,459.41 points or 1.28 percent to 113,713,71 points as compared to previous day’s closure of 112,253.76 points.
Of the total 441 companies traded, share value of 220 companies went up, of 142 companies went down while 79 remained unchanged.
On Wednesday, the Pakistan Stock Exchange (PSX) had closed with a loss of nearly 500 points. The decline was largely driven by anxiety over the ongoing International Monetary Fund (IMF) review and subdued activity in the current month of Ramazan, which led to caution and increased selling pressure.
Initially on Wednesday, the KSE-100 opened on a positive note, reaching the intra-day high of 113,327 points. Stock buying was observed in sectors such as automobile assemblers, cement, chemical, commercial banks, oil and gas exploration, power generation and refineries. However, selling intensified in the afternoon, causing the index to drop to the intra-day low of 112,146.
At the end of trading, the benchmark KSE-100 index posted a decline of 490.04 points, or 0.43%, and settled at 112,253.76.
Reporter Ashraf Khan