In signs of economic revival, Pakistan Stock Exchange hits highest level of last 6 months: Report

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In signs of economic revival, Pakistan Stock Exchange hits highest level of last 6 months: Report

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 a closing 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 higher to 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 market upward as the Sindh Pension Fund had released Rs. 2.25 billion to Mutual funds. The market participants are expecting a decrease in the policy rate in the upcoming monetary policy. HBL (2.13%) UBL (1%) OGDC (.37%) PPL (.27%) POL (1.54%) HUBC (.81%) were the major gainers today, said Rizwan Hussain, Deputy Head Institutional Sales at Multiline Securities.

Overall, 275.43 million shares were traded today, while 174 million shares were traded in KSE-100. Shares of 362 companies were traded overall. At the end of the day, 208 stocks closed higher, 135 declined and 19 remained unchanged.

Pakistan’s stock market has made a strong comeback in a few months after falling to 28000 points in August. The excitement in the market was seen due to a positive review of Pakistan’s economy by the International Monetary Fund (IMF). The investors were optimistic about the improvement in overall economic indicators.

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