News

Pakistan Stock Exchange bullish on third consecutive day

August 27, 2020 06:29 PM


The Pakistan Stock Exchange had another bright session on Thursday as the KSE-100 Index closed at 41,081.94 after going up by 219.35 points, thus consolidating the gains made during the last two days.
Earlier on Tuesday, the stock market got a boost of 490.22 points, thus crossing the 40,000 points psychological barrier again. It was followed by an even bigger gain of 569.77 points.
Earlier on August 15, the index had reached the level of 40,559.15 but the losses suffered since then meant that it fell below the 40,000 mark after that.
In fact, the last business week ending Friday saw the KSE-100 Index shedding 669.15 points, thus erasing a huge chunk of the gains earlier made this month.
Since recording the biggest sustained profitable streak of the year in July when the KSE-100 gained 4,836.92 points and closed at 39,258.44, it had moved up by only 421.14 points till Monday. However, the latest performance during the last three sessions means the index is now up by 1,700.48 points this month.
As far as the Thursday session is concerned, a total of 312,304,180 shares were traded during the day. With 353 companies available for trading, the share prices of 210 of these made gains, 127 were down and 16 remained unchanged.
The Saudi Pak Leasing Company Limited made the biggest gains as its share price was up by 35.38 percent. It was followed by First Dawood Investment Bank Limited with 28.65 percent and The Pakistan General Insurance Co Limited with 28.22 percent.
Meanwhile, seven out of the top 10 performers on Thursday were from the financial sector.
On the other hand, the most active stock during the session was The Bank of Punjab with the trading of 39,729,000 shares. The second and third on the list were TRG Pakistan Limited and K-Electric Limited with 36,931,500 and 28,446,000 shares respectively. 
However, Power Cement (R), Modaraba al-Mali and Unicap Modaraba were among the worst performers as their share prices were down by 41.67 percent, 20.32 percent and 19.12 percent respectively.
The latest losses means Power Cement (R) is going through a bad period as it had earlier lost 26.53 percent of its value on Wednesday.



Most Read

  1. Yet another burden on people: Govt hikes oil prices Yet another burden on people: Govt hikes oil prices
  2. Public reacts to Bohemia's music video ‘Salsa’ starring Sistrology Public reacts to Bohemia's music video ‘Salsa’ starring Sistrology
  3. Foreigners safe after suicide-bomber targets their van in Karachi Foreigners safe after suicide-bomber targets their van in Karachi
  4. Saudis offered PIA, airports, joint ventures to build five-star hotels Saudis offered PIA, airports, joint ventures to build five-star hotels
  5. Finance minister rules out further rupee devaluation Finance minister rules out further rupee devaluation
  6. Mehar Bano and Mamya Shajaffar’s bold dance videos invite public's wrath Mehar Bano and Mamya Shajaffar’s bold dance videos invite public's wrath

Opinion

  1. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  2. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  3. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  4. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  5. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  6. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer