KSE-100 Index makes gains after 900 points loss in last two sessions

By: News Desk      Published: 05:48 PM, 24 Nov, 2020
KSE-100 Index makes gains after 900 points loss in last two sessions

After losing over 900 points in the last two sessions, the Pakistan Stock Exchange managed to reverse the trend as the KSE-100 Index closed at 39,863.36 with a 230.84-point gain on Tuesday.

Earlier on Friday last week, the KSE-100 Index had slid from the level of 40,540.70 to 40,187.18 and then to 39,632.52 yesterday as the market did not start the new business week on a promising note. 

Hence, the market has overall shed 24.64 points during the current month despite reaching 41,197.32 on November 11, representing a roller coaster ride for investors.

Thus, it is a continuation of the sluggish performance witnessed in October when the index could only manage a 683.48 points gain after going down by 539.45 in September.

A total of 174,701,365 shares of 349 companies were traded on Tuesday. The share prices of 189 entities were up and of 131 down with no change in the value of 29.

It was a mixed session for the majority of sectors but all the energy companies –oil and gas exploration and marketing as well as refineries – made substantial gains.

Similarly, the pharmaceutical companies barring two – one had its share price cut and another remained unchanged – a profitable day while riding on the news of great progress made by three vaccine developers in the US and the UK.

The top three active stocks were Unity Foods, Maple Leaf Cement and TRG Pakistan with 19,008,000, 14,519,122 and 12,665,500 shares respectively.

Meanwhile, Pakistan International Airline was the biggest advancer with a 14.71 percent increase in its share price. It was followed by Pakistan PVC 11.34 percent and Mian Textile Industries 9.75 percent.

However, Samin Textiles proved to be the biggest worst performer with an 11.32 reduction in the share price. The next two on the list were First Pak Modaraba and First National Bank Modaraba with 10.34 percent and 10 percent respectively.