KSE-100 Index in green zone after early surge, late plunge

By: News Desk
Published: 05:05 PM, 17 Sep, 2020
KSE-100 Index in green zone after early surge, late plunge
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After four consecutive poor sessions, the Pakistan Stock Exchange returned to the positive territory as the KSE-100 Index closed at 42,334.76 after gaining 52.48 points on Thursday.

However, the ending wasn’t as expected after early gains when the index was up by over 350 points as the market moved south during a 30-minute frenzy in the afternoon.

At this stage, the KSE-100 Index was in negative territory but a late small surge got it over the line in the green zone.

A total of 324,373,187 shares were traded during the session which represented an uptick in volume. However, the share prices of 180 companies went down while 166 entities made gains. Meanwhile, there was no change in the value of the remaining 16.

During this process, the share price of Samin Textiles Limited was slashed by 13.05 percent, of Mian Textile Industries Limited by 12.76 percent and of The Pakistan General Insurance Company Limited by 9.83 percent.  

On the other hand, Modaraba Al-Mali proved to be the biggest gainer as its share price surged by 25 percent. It was followed by Telecard Limited and Drekkar Kingsway Limited with a gain of 21.39 percent and 9.95 percent respectively.

As far as the most active stocks are concerned, the top three performers were: Pakistan Telecommunication Company Limited 78,666,000 shares, Unity Foods Limited 45,248,500 shares and Hascol Petroleum Limited 35,002,500 shares.