PSX continues upward trajectory, gains 401 points

KARACHI: The Pakistan Stock Exchange witnessed a bullish trend on Wednesday as the KSE-100 index crossed 37,000 points, first time since May 2019, ARY News reported.

The KSE-100 Index closed today at 37166.96 points as compared to 36765.56 points on the last working day with a positive change of 401.40 points.

The total turnover was 275,430,851 as compared to 292,060,810 on the last working day.

Total 379 companies’ transacted shares in the Stock Market today, out of which 230 recorded gain and 130 sustained losses whereas the share price of 19 companies remained unchanged.

Meanwhile, Asian markets rattled by Trump’s speech and Hong Kong’s turmoil. Onshore spot yuan fell to a low of 7.0270 per dollar at one point, the weakest since Nov. 5, Reuters reported.

Hong Kong protesters planned to paralyze parts of the city for a third day, with transport, schools and many businesses closing after violence escalated across the city.

Hong Kong interbank rates rose, with one-month HIBOR at its highest since Aug. 6.

The U.S. dollar gained 0.05% against a currency basket, just off three-week highs. The damage to risk appetite pushed down yields on U.S. and German safe-haven debt. Yields on 10-year Treasury notes US10YT=RR fell to a six-day low around 1.87%; 10-year Bund yields were down 4 basis points to minus 0.28%.