PSX sees bullish trend, gains 635 points

KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday witnessed an unprecedented increase in volumes after it crossed the 200 million mark.

The PSX Index closed today at 38965 points as compared to 38330 points on Tuesday with a positive change of 635 points. The KMI 30 index also enjoyed the ride and added 2.49pc to settle at 64,081.55. The KSE All Share Index, with 245 advancers, added 347.05 points to end at 28,408.74.

While, the volumes increased significantly from 86.4mn shares to 228.7mn shares. Average traded value also increased by 73% to reach US$ 43.8mn as against US$ 25.3mn.

Read: PAF’s response to India brings bullish trend in PSX

Trade volumes rose to 227.83 million with right shares of Unity Foods Limited (UNITY +52.63pc) leading the flight. The rights saw 80.42 million shares exchanging hands, making up for 35pc of the total market volume. Worldcall Telecom (WTL +5.50pc) was next on the chart with 13.61 million traded shares, followed by K-Electric Limited (KEL +3.67pc) with a volume of 13.40 million.

Indices traded in the green zone all day long.

In February, Pakistan Stock Exchange (PSX) had showed up-ward trend as the 100-index jumped to 38,858 points following the befitting response by Pakistan against Indian aggression.

The market reacted positively after the news of Pakistan Air Force (PAF)’s successful strike that shot down two Indian fighter-jets for violating country’s air territory.