Pakistan Stock Exchange takes a 514-point jump

By: News Desk      Published: 04:44 PM, 25 Nov, 2020
Pakistan Stock Exchange takes a 514-point jump

The Pakistan Stock Exchange had a profitable session on Wednesday as the KSE-100 surged to 40,377.53 after a 514.17 (1.29 percent) gain with a huge increase in trading volume.

A total of 9,821,959,257 shares were traded during the process, representing an over five times increase compared with yesterday. With 352 companies available for trading, the share prices of 202 entities were up and of 133 down with no change in the value of 17.

The automobile, commercial banks, investment banks and securities companies, oil and gas exploration, transport and refineries were the best performing sectors.

The top three active stocks were Fauji Fertilizer Bin Qasim (R), TRG Pakistan and Unity Foods with 28,573,000, 21,158,000 and 20,846,000 shares respectively.

However, the share price of Fauji Fertilizer Bin Qasim (R) was down by 13.12 percent, making it worst performer in the market. First Al-Noor Modaraba 8.21 percent and Data Agro 7.54 percent were the next two on the list of top decliners.

Meanwhile, Pakistan International Airline was the biggest advancer on the second consecutive day with a 12.82 percent jump in share price after a 14.71 percent gain on Tuesday. It was followed by First Pak Modaraba and The Pakistan General Insurance Company with an increase of 11.54 percent and 10 percent respectively.

Earlier on Tuesday, the stock exchange, after over a 900 points hit in the previous two sessions, managed to reverse the trend as the KSE-100 Index closed at 39,863.36 with a 230.84-point gain.

On Friday last week, the KSE-100 Index had slid form 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 overall shed 24.64 points during the current month despite reaching 41,197.32 on November 11, representing a roller coaster ride for investors.

But the latest performance means the index has made a net gain of around 490 points this month so far with three more sessions still to go.

In October, the index had only managed a 683.48 points gain after going down by 539.45 in September.