Karachi: The positive reaction in global stock markets to Trump’s easing of tariff policy for China also resulted in a rally in the Pakistan Stock Exchange on Monday, with the index regaining two levels of 115,000 and 116,000 points.
Factors such as the expected significant decline in petroleum product prices in the fortnight, Turkey’s indication of providing assistance in 40 wells in Makran under Pakistan’s offshore drilling program, and the record remittances of over $4 billion received by Pakistanis living abroad in March, led to a rally in the market throughout the trading session, which at one point even saw a rally of 1,641 points.
However, the trend of quick profit-taking prevailed in the closing moments, which led to a decline in the aforementioned rate of increase. As a result, at the end of the business, the KSE 100 Index closed at 116390.03 points with an increase of 1536.70 points, the KSE 30 Index increased by 479.12 points to 35696.26 points, the KSE All Share Index increased by 707.47 points to 72781.16 points and the KMI 30 Index increased by 2158.95 points to 177572.79 points.
The trading volume was 5.66 percent lower than last Friday, with a total of 484.547 thousand 19 shares traded, while the scope of trading activities was limited to the shares of 455 companies, of which 247 increased in price, 145 decreased in price and 63 remained stable.
Among the companies whose share prices increased significantly, the price of PIA Holding Company increased by Rs 132.95 to Rs 1462.40 and the price of Nestle Pakistan increased by Rs 102.48 to Rs 7173.33, while the price of Hoist Pakistan decreased by Rs 88.96 to Rs 3233.01 and the price of Indus Motors decreased by Rs 19.52 to Rs 1999.51.
