Pakistan Stock Exchange (PSX) ended on a positive note with the KSE 100 Index seeing gains
The benchmark KSE-100 Index gained 137 points, or 0.34%, by the close of trading to reach 40,144. Close to 156.5 million shares had changed hands by the end of the session, with a total worth of nearly Rs3.3 billion. Stocks of 357 companies were traded, of which 244 gained in value, 99 declined and 14 remained unchanged.
Volumes were led by Hascol, with 24.02 million shares traded. Unity Foods Limited, TRG Pakistan, Power Cement, and Azgard Nine Limited closed out as the top five symbols traded, with volumes of 21.5m, 19.6m, 14.5m, and 13.6m, respectively.
Stocks on Wednesday ended positive as tempting valuations saved the day marked by volatile trade amid jitters over IMF-projected grim economic outlook and a stewing political crisis, dealers said. Mid-session pressure remained on political noise, uncertainty over FATF decision on Pakistan, and concerns regarding IMF warnings over subdued growth, and higher current account deficit for FY21.
“Strong data on cement and auto sales for September 2020, rupee stability, and upbeat data on remittances for September contributed to a bullish close,” Mehanti added.
Muhammad Saeed Khalid, head of research at Shajar Capital, said, “Following the announcement of a reduction in the prices of wheat, the sentiments in the stock market recovered to positive later during the day”.
