Pakistan Stock Exchange crosses 40,000 points

KARACHI: Pakistan Stock Exchange (PSX) on Monday crossed 40,000 mark after a gap of around 10 months as the KSE-100 index closed at 40,122 points with a positive change of 836 points, ARY News reported.

A total of 361,655,400 shares were traded during the day, whereas the value of shares traded during the day stood at Rs 13.75 billion compared to the previous day’s value of 11.9 billion.

Total 392 companies’ transacted shares in the Stock Market, out of which 284 recorded gain and 91 sustained losses whereas the share price of 17 companies remained unchanged.

Earlier in the day, Moody’s rating agency has changed Pakistan’s outlook to stable from negative.

The Moody’s has kept Pakistan’s rating outlook unchanged to B-3. It further said the Pakistani economy is improving and the biggest challenge being faced by the Pakistani economy, the current account deficit, is also shrinking.

On Sunday, Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh said on Sunday the “strong rally” in the stock market shows “increasing investor confidence” in the government’s stabilisation measures.

Taking to Twitter, he said the KSE-100 index was up by 14.9 per cent in November, the “highest one month return after May 2013.”