Karachi: The Pakistan Stock Exchange’s 100 index has touched a new high. According to Express News, positive economic indicators, a significant reduction in interest rates in the new monetary policy, improved inflows and the economy moving in the right direction due to the continued implementation of the reform program, the Pakistan Stock Exchange remained bullish on Monday despite fluctuations, which led to the index reaching a new high of 109,500 points.
Due to the boom in the market, share prices increased by 60 percent, while the value of shares increased by another Rs 172 billion 61 crore 69 lakh 85 thousand 905.
At the start of business, due to the sudden increase in the intensity of selling in the banking sector, there was a major downturn or intraday correction of 1428 points at one point, after which the series of fluctuations continued intermittently.
Factors such as China, Saudi Arabia and the United Arab Emirates’ willingness to provide a one-year moratorium on debt repayments to Pakistan led to a rebound in the capital market after noon.
In the second session, there was a rally of 1305 points at one point, however, the trend of profit-taking prevailed again in the closing moments, which reduced the rate of the rally. As a result, the KSE 100 index closed at a new high of 109970.38 points by increasing by 916.44 points at the end of the business.
The trading volume remained 6 percent lower than last Friday and a total of 1,597,868,204 shares were traded and the scope of trading activities was limited to shares of 467 companies.
Share prices of 278 companies increased, prices of 158 decreased and prices of 31 remained stable.
Among the companies whose share prices increased significantly, Nestle Pakistan’s price increased by Rs 671.59 to Rs 7387.52 and Sazgar Engineering Works’ price increased by Rs 95.01 to Rs 1156.40.
Lucky Core Industries’ price decreased by Rs 47.84 to Rs 1094.88 and Thal Limited’s price decreased by Rs 21.39 to Rs 442.39.
