The benchmark KSE-100 Index close at 43,522.55 points
\n KARACHI
\nThe Pakistan Stock Exchange (PSX) turned around on Thursday, with the benchmark KSE-100 Index gaining 318.76 points (+0.74 percent) to close at 43,522.55 points.
\nThe PSX opened on a slight positive note but soon switched towards the red territory where it stayed for the next four hours. The buyers took control in the last two-hour trading, which not only brought the index back to the green territory but also provided it a strong closing.
\nRussian stocks rose as trading resumed in the country following a month-long hiatus. All eyes were on Russia\u2019s largest bourse, the Moscow Exchange, which was up 5 percent as of 0959 GMT in a shortened trading session, supported by measures including a ban on short selling. The rouble firmed 2%, extending gains after President Vladimir Putin\u2019s statement that Russia would start selling its gas to unfriendly countries in roubles.
\nThe political instability in the country eroded the investors\u2019 confidence to some extent, as the parliament is moving closer to a vote of no-confidence move against Prime Minister Imran Khan, with both treasury and opposition benches expecting a victory. On the other hand, the Pakistani rupee remained flat at 181.73 against the US dollar during the day after falling for seven straight sessions, which improved the investors\u2019 confidence. Moreover, rising crude oil prices gave a boost to the oil exploration sector.
\nThe KSE-100 Index moved in a range of 633.61 points, showing an intraday low of 42,936.06 points and a high of 43,569.67. Among other indices, the KSE All Share Index gained 184.61 points (+0.62 percent) to close at 29,813.62 points, while KMI All Share Islamic Index gained 140.98 points (+0.66 percent) to close at 21,515.78 points.
\nA total of 352 companies traded shares in the stock exchange, out of them shares of 184 closed up, shares of 141 closed down while shares of 27 companies remained unchanged. Out of 93 traded companies in the KSE-100 Index, 61 closed up and 27 closed down and five remained unchanged.
\nThe overall market volumes increased by 11.51 million to 149.79 million shares. Total volumes traded for the KSE-100 Index increased by 10.59 million to 64.53 million shares. The number of total trades increased by 17,509 to 81,967, while the value traded increased by Rs0.63 billion to Rs5.64 billion. Overall, market capitalisation increased by Rs45.49 billion.
\nAmong scrips, TREET topped the volumes with 20.76 million shares, followed by TRG (10.2 million) and TELE (9.4 million). Stocks that contributed significantly to the volumes included TREET, TRG, TELE, PAELR3, and TPLP, which formed around 36 percent of total volumes.
\nIn terms of rupee, UPFL remained the top gainer for the second straight session and witnessed an increase of Rs550.5 (2.35 percent) per share, closing at Rs24,499. The runner-up was RMPL, the share price of which climbed up by Rs286.67 (2.51 percent) to Rs11,690. WYETH remained the top loser in terms of rupee and witnessed a decrease of Rs35.38 (1.69 percent) per share, closing at Rs2,060.57, followed by SCL, the share price of which declined by Rs25.9 (7.49 percent) to close at Rs319.74 per share.
\nThe sectors taking the index towards north were cement (74 points), technology & communication (53 points), commercial banks (36 points), fertilizer (34 points) and oil & gas exploration companies (32 points). The most points added to the index were by TRG (53 points), LUCK (37 points), HBL (35 points), FFC (22 points) and HUBC (21 points).
\nThe sectors taking the index towards south were miscellaneous (4 points), automobile parts & accessories and pharmaceuticals (3 points each), insurance (2 points) and textile spinning (one point). The most points taken off the index were by UBL (14 points), ENGRO (9 points), FATIMA and SYS (8 points each) and SHFA (4 points). <\/p>\n","protected":false},"excerpt":{"rendered":"
The benchmark KSE-100 Index close at 43,522.55 points KARACHI The Pakistan Stock Exchange (PSX) turned around on Thursday, with the benchmark KSE-100 Index gaining 318.76 points (+0.74 percent) to close at 43,522.55 points. The PSX opened on a slight positive note but soon switched towards the red territory where it stayed for the next four […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[205],"class_list":{"0":"post-251182","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business","7":"tag-psx"},"yoast_head":"\n