Pakistan Stock Exchange sustains surge with 444 points gain

By: News Desk      Published: 05:32 PM, 9 Oct, 2020
Pakistan Stock Exchange sustains surge with 444 points gain

The stock market continued with its latest bullish run as the investors enhanced their gains during a session which proved profitable across different sectors.

When the Pakistan Stock Exchange closed trading on Friday after an extended session due to the weekly prayers break, the KSE-100 Index had reached 40,798.43 after a 444.81 points gain.

After shedding 1,499.01 points from Oct 1 to Oct 5, the market has bounced back strongly and recovered some of those losses.

However, the KSE-100 Index is still below the 42,647.35 mark – the highest point reached on Sept 10 after the spectacular slide in March this year – mainly thanks to the sustained recovery seen in July and August.

On March 25, the KSE-100 Index was dipped to 27,228.80 with an over 12,000 points tumble in March. However, the market had been witnessing a negative trend even before that after reaching the level of 43,207.05 on Jan 10.

A total of 358,364,367 shares were traded on Friday. The share prices of 234 companies were up and those of 109 down with no change in the value of 14.

Hascol Petroleum Limited continues to be the mainstay and lead mover by sustaining its status of most active stock. It had 53,935,145 shares traded albeit the share price was down by 5.06 percent.

Yet again it was followed by Unity Foods Limited and TRG Pakistan Limited with 34,986,500 and 21,436,500 shares respectively. 

Meanwhile, Unicap Modaraba with an eye-catching 51.43 percent increase its share price was the top performer. The other two top three companies were Kohinoor Industries Limited 16.95 percent and Saudi Pak Leasing Company Limited 16.67.

On the other hand, Samin Textiles Limited, Tri-Star Mutual Fund Limited and Askari Life (R) were the top three decliners with 16.79 percent, 11.76 percent and 11.11 percent reduction in their share prices respectively.