Pakistan Stock Exchange Witnesses Bullish Trend As KSE-100 Crosses 40000 Points Psychological Barrier

Umer Jamshaid Published August 06, 2020 | 09:55 PM

Pakistan Stock Exchange (PSX) witnessed a bullish trend as KSE-100 closed at 40166.12 points as compared to 39,882.78 points on the previous working day with positive change of 283.34 points (0.71%).

KARACHI, (UrduPoint / Pakistan Point News - 6th Aug, 2020 ) :Pakistan Stock Exchange (psx) witnessed a bullish trend as KSE-100 closed at 40166.12 points as compared to 39,882.78 points on the previous working day with positive change of 283.34 points (0.71%).

Head of Equities Aba Ali Habib Securities, Zaheer Ahmed told APP there are some positive developments which led the bullish rally in the market and helped KSE-100 to cross the 40000 points psychological barrier.

First of all, the government was easing out lock-down in the country gradually which would boost the economic activities, he said adding the news of approval of strategically important Mainline-1 railway project of the China Pakistan Economic Corridor (CPEC) worth $6.8 billion by the Executive Committee of the National Economic Council (ECNEC) also created the positive sentiments in the stock markets as this project would benefit various sectors like cement, steel and others.

In addition, the increase of Rs.5-7 per bag of cement has also attracted the investors to take the fresh positions in the cement sector, Ahmed told.

According to pakistan stock exchange (PSE), total volume of shares traded was 826,808,981 while value of shares traded during day stood at 24,343,905,554.

As many as 415 companies transacted shares in stock market, out of total 234 recorded gains and 166 sustained losses, whereas share price of 15 companies remained unchanged during the day.

Top three companies traded were WorldCall Telecom with volume of 242,817,000 shares, Power Cement with 45,339,000 and Maple Leaf Cement with 38,472,000.

Rafhan Maize registered a maximum increase of 350.00 per share, closing at 8300.00 while Mehmood Tex. recorded a maximum decrease of 40.15 per share, closing at 495.30.