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KSE-100 soars to 46,144 points

KARACHI: The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 1,700.38 points, with a positive change of 3.83 percent, closing at 46,144.96 points against 44,444.58 points on the last working day.

A total of 557,672,451 shares were traded during the day compared to the trade of 227,885,722 shares the previous day whereas the price of shares stood at Rs13.362 billion against Rs6.785 billion on last trading day.

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As many as 386 companies transacted shares in the stock market, 330 of them recorded gain and 45 sustained losses, whereas the share price of 11 companies remained unchanged.

The three top trading companies were WorldCall Telecom with a volume of 140,797,500 shares and price per share of Rs2.13, Cnergyico PK with a volume of 40,149,171 and price per share of Rs6.00 and Fauji Cement with volume of 18,176,500 and price per share of Rs17.86.

Bata (Pak) witnessed a maximum increase of Rs145.19 per share, closing at Rs2,484.39 whereas the runner up was Rafhan Maize, the share prices of which climbed up by Rs100 to Rs11,500.

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Gatron Ind witnessed maximum decrease of Rs30.23 closing at Rs471.67 followed by Mithchells Fruit, the share price of which declined by Rs9.21 to close at Rs118.82.

Raza Jaffrey, head of research at Intermarket Securities, said that KSE-100 index was up more than three per cent after the end of the “high political drama” over the last few weeks.

“Attention will quickly turn to the economy and initial soundbites from the PML-N, to quickly approach the International Monetary Fund (IMF) and to improve administrative efficiency, are encouraging,” he said.

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