PSX witnesses bullish trend, 100 Index moves above 41,000 points

KARACHI: The trading at the Pakistan Stock Exchange (PSX) on first day of the business week has begun on a bullish trend as the KSE-100 Index has gained 330 points, taking it to cross the level of 41,000 points, ARY News reported on Monday.

The investors are gaining confidence into Pakistan’s economy and stock market due to steps taken by the incumbent government.

Currently the 100 Index is trading at the level of 41,180 points.

Earlier on Friday, the last day of the business week, Pakistan Stock Exchange (PSX) had lost 279 points to close at 40,848 points.

A total of 146,610,620 shares valuing Rs 7.7 billion were traded against 132,017,420 shares of Rs 6.52 billion during the last trading day.

Shares of 348 companies were transacted, out of which 116 recorded gain and 211 sustained losses whereas the share price of 21 remained unchanged.

Last month, Advisor to Prime Minister on Finance, Hafeez Shaikh had said Pakistan Stock Exchange (PSX) is one of the best stock markets across the globe.

Addressing Pakistan Innovative Finance Forum, organized by Asian Development Bank in Islamabad, Dr Hafeez Shaikh had said confidence of the world is being restored in the Pakistani economy.”The economy of the country has been put in the right direction introducing effective reforms.”