PSX rebounds as KSE-100 adds 594 points

KARACHI: The Pakistan Stock Exchange (PSX) closed on a positive note as the benchmark KSE-100 index gained 594 points at the closing of the market on Thursday, ARY News reported.

KSE-100 gained 594.36 points, or 0.52 percent, closing at 114,037.79 at the closing of the stock market as against the previous day’s closing of 113,443.43 points.

A total of 675.54 million shares were exchanged during the day at the PSX, compared with the turnover of 743.632 million shares the previous trading day. The price of shares stood at Rs30.46 billion against Rs35.24 billion on the last trading day at the Pakistan Stock Exchange.

As many as 442 companies transacted their shares in the stock market, 213 of them recorded gains and 181 sustained losses, while the share price of 48 companies remained unchanged.

Analysts at Topline Securities said that the KSE-100 saw a positive performance in today’s trading session, with the index reaching an intraday peak of 114,320 points before closing at 114,038.

“The market sentiment was buoyed by recent foreign corporate buying, and cement stocks remained in focus. Key contributors to the positive movement included ENGRO, PSO, FCCL, SEARL, and MLCF, which together added 309 points to the KSE-100 index,” they added.

Read more: PSX stays bearish as KSE-100 experiences sharp decline

The three top trading companies were Cnergyico PK with 143.69 million shares at Rs7.93 per share, WorldCall Telecom with 78.19 million shares at Rs1.79 per share.

Fauji Cement remained the third with 47.17 million shares at Rs40.65 per share.