ISLAMABAD – Pakistan Stock Exchange has gone on to reach 37000 points,which is its highest in the last six months since April 29, 2019, on aclosing basis.
The index had gained during eight sessions consecutively before yesterday.At the end of the day, the benchmark KSE-100 Index closed 401 points higherto settle at 37167, reaching a peak of 524 points during intra-day trading.
The market touched an intra-day high of 37,289 points today.
Banks, Oil, and Power sectors pulled the overall sentiment of the marketupward as the Sindh Pension Fund had released Rs. 2.25 billion to Mutualfunds. The market participants are expecting a decrease in the policy ratein the upcoming monetary policy. HBL (2.13%) UBL (1%) OGDC (.37%) PPL(.27%) POL (1.54%) HUBC (.81%) were the major gainers today, said RizwanHussain, Deputy Head Institutional Sales at Multiline Securities.
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Overall, 275.43 million shares were traded today, while 174 million shareswere traded in KSE-100. Shares of 362 companies were traded overall. At theend of the day, 208 stocks closed higher, 135 declined and 19 remainedunchanged.
Pakistan’s stock market has made a strong comeback in a few months afterfalling to 28000 points in August. The excitement in the market was seendue to a positive review of Pakistan’s economy by the InternationalMonetary Fund (IMF). The investors were optimistic about the improvement inoverall economic indicators.
