KSE-100 Index gains 842 points

By: News Desk      Published: 01:01 PM, 27 Mar, 2020
KSE-100 Index gains 842 points

Just like the previous day, the Pakistan Stock Exchange (PSX) remained in the positive territory on Friday as the KSE-100 Index closed at 28,109.57 after gaining 842.37 points.

A total of 141,970,621 shares traded on a day which started with the index at 27,267.20.

During the day, the index dropped down to as low as 27156.53 and reached the highest point of 28273.09.

The two consecutive days of gains will certainly give at least some temporary confidence to the investors on a day which also saw the State Bank pumping over $300 million dollars into the system to control the alarming rise in the dollar’s inter-bank rate.

It resulted in a dramatic cut in the dollar exchange rate from the all-time high of Rs169 to Rs165.

On Thursday, the PSX had ended the day in the positive territory, it lost the ground made during the first half of trading.

The KSE-100 Index closed at 27,267.20 as it gained 38.40 points after starting the day at 27,228.80.

As the positive trend witnessed early on Thursday couldn’t be sustained, the speculations proved true that it wasn’t something long-term. The reason for this negativity was that the PSX had suffered huge losses during the last two days [Tuesday and Wednesday] despite the fact that the international markets have been bouncing back due to the measure taken by the big economies.

Earlier on Wednesday, the KSE-100 Index was down 1,336.03 points (4.48 percent) and ended the day at 27,228 points.

The trading was suspended for two hours after huge losses as the KSE-100 Index was shrinking with each passing moment.

It proved to be a repeat of Tuesday when the KSE-100 Index had shed 2,102.58 points. The index stood at 27,294.78 after losing 1,270.05 points when the trading was stopped at 12:20pm, which represents 4.45 percent loss.

Categories : Business