Pakistan Stock Exchange ends profitable August positively

By: News Desk
Published: 04:55 PM, 31 Aug, 2020
Pakistan Stock Exchange ends profitable August positively
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After going up by over 250 points during the session, the KSE-100 Index ended the day at 41,110.93 after a gain of 54.71 as the Pakistan continued moving in upward trajectory in August too.

The latest performance on the closing day of August means the KSE-100 Index made an overall gain of 1,852.49 points during the month. In July, the index was up by 4,836.92 points.

Hence, the market has managed to cut the losses suffered earlier in March when the index was down by over 10,000 points. Since then it made some progress but there was nothing significant. However, the months of July and August saw the market regaining confidence and starting to move in the right direction.

On Monday, a total of 212,356,572 shares of 352 companies were traded where the share prices of 173 entities were down and of 164 up. However, the value of 14 companies remained unchanged.

Eight of the top 10 gainers in terms of share price were from the financial sector and two from textile. The biggest gains were made by Saudi Pak Leasing Company Limited with its price going up by 33.33 percent. It was followed by Dewan Textile Mills Limited and Capital Assets Leasing Corporation with an increase of 32.65 percent and 24.21 percent respectively in their share prices.

However, Power Cement (R) suffered the biggest losses during the session as its share price was slashed by 66.67 percent. Meanwhile, Nazir Cotton Mills Limited was down by 20.41 percent and Mian Textile Industries Limited by 16.53 percent.

As far as the most active stocks are concerned, it was BankIslami Pakistan Limited whose 40,929,500 shares were traded. The second on the list was TRG Pakistan Limited with 40,129,500 shares and Power Cement (R) being the third with 32,043,000 shares.

Categories : Business