Historic PSX week bodes well as market capitalization surpasses Rs8tr

KARACHI: The Pakistan Stock Exchange (PSX) has fared positive for the week as it marked record trading volume in bourse history with Rs137 billion worth of business in the outgoing week ending yesterday, ARY News reported citing PSX stats released on Saturday.

The benchmark KSE-100 index which gauges overall market performance with 100 top listed companies, closed at 47,126 level gaining 1,211 points over the week.

In its weekly report, PSX said it recorded trade of about 6.18 billion shares with Thursday cropping up to be the biggest trading day in PSX history with 2.2 billion shares traded in a single day.

The same week posted a jump in market capitalization by Rs169 billion owing to positive trader sentiment due to a GDP growth forecast of 3.9 per cent and business-friendly budget anticipation encouraging traders to actively trust the market.

With new weekly capitalization recorded at the end of trading week Friday, the market stands at Rs8.131 trillion now.

READ: FY2021-22 budget earmarked Rs900b in PSDP, planning commission says

Earlier yesterday, the deputy chairman of the planning commission chaired its annual session to mull over the fiscal year 2021-22 budget noting an expansion of 38 per cent than the preceding one with Rs900 billion allocated to public sector development programs (PSDP).

The session today has approved all the programs under PSDP rubric in the fiscal budget noting that about Rs100 billion worth of foreign aid is included in these programs for the upcoming year.