HomeNewsStock market crosses historic 55,000 points barrier

Stock market crosses historic 55,000 points barrier

LAHORE/ISLAMABAD-A new record has been established in the Pakistan stock market as the 100-share index crossed the level of 55000 points for the first time in the country’s history. The last day of the business week witnessed a tremendous boom in the stock market. Pakistan stock market sources told APP that according to the ongoing record-setting in the stock market, investors’ confidence is being restored in view of the positive economic scenario. They said that it was expected that the trend of growth will continue in the future.
The 100-index of Pakistan Stock Exchange (PSX) gained 1,129.94 points, a positive change of 2.08 percent, closing at 55,391.37 points against 54,261.43 points the previous day. A total of 640,836,781 shares valuing Rs21.146 billion were traded during the day as compared to 482,744,893 shares valuing Rs20.129 billion the previous day. As many as 380 companies transacted their shares in the stock market; 260 of them recorded gains and 103 sustained losses, whereas the share price of 17 companies remained unchanged. The three top-trading companies were Cnergyico PK with 103,458,035 shares at Rs.4.78 per share, Hum Network with 42,409,000 shares at Rs.7.23 per share and Pak Refinery with 31,064,288 shares at Rs.23.18 per share. Pak Tobacco XD witnessed a maximum increase of Rs.49.00 per share price, closing at Rs.945.00, whereas the runner-up was Archroma Pak with a Rs.30.86 rise in its per share price to Rs489.31. Rafhan Maize XD witnessed a maximum decrease of Rs.36.67 per share closing at Rs7,930.00, followed by Gadoon Textile with a Rs.8.90 decline to close at Rs.201.00.

Source: nation.com.pk

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