Share prices go through the roof at Pakistan Stock Exchange

By: News Desk      Published: 05:19 PM, 10 Sep, 2020
Share prices go through the roof at Pakistan Stock Exchange

The Pakistan Stock Exchange made impressive gains on Thursday as the KSE-100 Index was up by over 600 points while closing at 42,647.35.

At one point, the index was reached the level of 42,896.36, representing a gain of over 870 points. However, the market witnessed some correction after that and settled for a 625.10 points surge, representing an increase of 1.49 percent.

It was the performance shown by the sectors like investment banks and companies/ security companies on which the market rode for these gains. Meanwhile, the oil and gas exploration as well as the market companies too were among the top performers.

Similarly, most of the commercial banks and insurance companies made significant gains.

However, the majority of actors in the automobile, chemical and engineering sectors didn’t have a good session.

A total of 498,611,619 shares were traded during the day, representing a spike of around 20 percent when compared with the previous session. However, the volume was still lower than 514,878,894 shares recorded on Tuesday when the market had shed 310.56 points and closing at 41,985.19.

Six out of the top 10 gainers in terms of share price were from the financial sector with PICIC Insurance Limited leading the pack after an increase of 52.07 percent. It was followed Crescent Star Insurance Limited and Jubilee Spinning and Weaving Mills Limited with their respective share prices going up by 37.31 percent and 30.30 percent.  

Pakistan International Bulk Terminal Limited, which has been among the top 10 commodities in recent weeks on many occasions, was the most active stock with 122,049,000 of its shares traded.

It was followed by Hascol Petroleum Limited which saw 48,103,500 shares being traded. During the last two sessions, it was the most active stock. However, its price was down by 8.68 percent. But on Thursday, it made a slight gain of 0.24 percent.

As far as the worst performers are concerned, the share price of Dewan Farooque Motors Limited was down by 10.62 percent, First Pak Modaraba by 9.79 percent and Capital Assets Leasing Corporation by 9.09 percent.