KARACHI: Bulls at the Pakistan Stock Exchange (PSX) seem to be in full domination as trade volume reaches 2.1 billion shares, an all-time record. This activity pushed the benchmark KSE-100 index above 47,000 points mark during mid-day.
The investors are looking active due to corporate activities such as capacity expansions, acquisitions, and sales improvement. The noticeable decline in COVID-19 positivity rate in the country also provided hope for better business situation ahead.
The benchmark KSE-100 Index started the day in positive as an extension of the previous day’s trend as fresh buying in technology, cement and banking stocks pushed the index above 47,000 points barrier within the first ten minutes of the trade.
However, some profit-taking and adjustments in portfolios by the investors led the market to some intraday corrections in the way. KSE-100 Index was trading at 47,181 points at 2 pm up 368 points compared to the previous day closing. Trading volumes reached another record all-time high with 1.8billion shares today, while it closed the day with 1.5bn shares yesterday.
“It is great to see the momentum, but the intraday corrections indicate and demand cautious policy now at current levels,” traders and analysts said. “But looking at the fundamentals it seems a very good time for selective investment with the study of shares and their rate of returns.”
