PSX turns bullish, gains 862 points

KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) experienced a bullish trend on the first business day of the week, gaining 862.15 points, which amounted to a positive change of 1.20 percent, ARY News reported on Monday.

In today’s trading session, the KSE-100 benchmark exhibited a range of movement with a high recorded at 73,060.74 points and a low of 72,462.49 points before settling at 72,764.24 points at the close of trading.

This marks an increase from the index’s closing level of 71,902.09 points recorded during the previous trading day.

Trading activity saw a total turnover of 578,388,643 shared value at Rs 24.518 billion as compared to 452,155,229 shares valuing Rs 24.542 billion on the last day.

A total of 389 companies transacted their shares in the stock market; 258 of them recorded gains and 108 sustained losses, whereas the prices of 23 remained unchanged.

As per last week’s report, the KSE-100 index of PSX dropped by 1.2 percent, shedding 840.65 points as the SBP decided to keep the policy rate unchanged at 22 percent for the sixth time in its monetary policy meeting held this week.

The volume also witnessed a negative trajectory of 21 percent in terms of shares traded and 8 percent in value (US$mn) compared to the last week.

Throughout the week, the 100 index displayed a seesaw trajectory, fluctuating within a range of 2,738 points before closing at 71,902 points compared to the previous 72742.75 points close last week.

During the week, the KSE-100 index marked a significant milestone by surpassing an all-time high of 73,300 points.