Pakistan Stock Exchange closes at all-time high

The Pakistan Stock Exchange (PSX) registered modest gains on Wednesday but was still able to end the business at a historic high above 157,000 mark, reported 24NewsHD TV channel.

At the close of the trading, the PSX’s benchmark KSE-100 index gained 457.27 points to reach 157,020.79 points, marking an increase of 0.29 percent.

Before recording gains, it shed 484 points during intraday trading, dropping to 156,079.52 points.

As many as 485 companies transacted their shares in the stock market today, 255 of them recorded gains and 227 sustained losses, whereas the share prices of 33 companies remained unchanged

Experts said some profit-taking and cautious trading by investors appeared to be driving the volatility in the market.

Earlier on Tuesday, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index continued with a bullish trend on Tuesday, gaining 476.22 points, a positive change of 0.31 percent, closing at 156,563.53 points.

A total of 1,068,521,605 shares were traded during the day as compared to 1,126,267,973 shares the previous trading day, whereas the price of shares stood at Rs 55.190 billion against Rs 62.295 billion on the last trading day.

The three top trading companies were K-Electric Limited with 169,615,422 shares at Rs 5.75 per share, Bank of Punjab with 83,886,261 shares at Rs19.66 per share and WorldCall Telecom with 74,056,866 shares at Rs1.52 per share.

Hoechst Pakistan Limited witnessed a maximum increase of Rs 73.65 per share price, closing at Rs 4,094.15, whereas the runner-up was Bhanero Textile Mills Limited with Rs44.10 rise in its per share price to Rs1,000.00.

PIA Holding Company LimitedB witnessed a maximum decrease of Rs 343.50 per share, closing at Rs 24,565.50 followed by Unilever Pakistan Foods Limited with Rs 182.75 decline in its share price to close at Rs 32,317.25.

Meanwhile, in the future market, as many as 316 companies traded shares in the market, out of which 110 witnessed gain, 201 loss where the prices of 5 companies remained unchanged.

Reporter: Kavish Memon