KARACHI: Pakistan Stock Exchange (PSX) managed to close the last trading session of the week in positive with gains on the back of some positive news. The benchmark index despite several attempts remained under 45,500 points barrier.
The Karachi Share Index (KSE-100) ended the day 75.45 points (0.17 per cent) up at 45,305.63 points against the previous closing of 45,230.18 points. The benchmark index despite several attempts remained under 45,500 points barrier.
The market went as high as 45,471.35 points during intra-day trading, while recording as low as 45,230.18 points. Trading volume fell to Rs173.5million shares today as compared to Rs347m traded in the previous session, according to PSX website data. The daily traded value inclined to Rs8.7bn from Rs12.6bn in the previous session, the data said.
Despite the very low volumes and light activity the overall mood of the market was positive due to encouraging news from the macroeconomic front, traders and analysts said. While the reason behind the low volumes was the ongoing unrest and the COVID-19 situation across the country, they added.
Pakistan’s forex reserves climbed to a five-year high of $23.2bn. The reserves surged by $2.54bn, an increase of 12.2 per cent to $23.22bn as compared to $20.68bn in the last week.
On the other hand following the violent protest, the government decided to establish a special cell to catch violent TLP protesters. While around 2,135 protesters have already been arrested from across the country.
The share price of Sapphire Textile increased by Rs58.28 to Rs933.33, while Bhanero Textile gained Rs54.90 to Rs949.90. On the other hand, Pakistan Tobacco lost Rs37.97 today to close at Rs1,500, while Wyeth Pak Ltd. lost Rs29 to close at Rs970.
