KARACHI – The Pakistan Stock Exchange (PSX) on Monday witnessed positive trend on Monday as KSE-100 index gained over 394 points.
The positive sentiments were observed in stock market after the federal government announced a cut in petrol and diesel prices. Last week, the government reduced the petrol and diesel prices by Rs8 and Rs11 per litre after the hit all-time high mark.
It also follows a significant recovery made by the Pakistani rupee against the US dollar. PKR has gained +7.1% or Rs20.3 against dollar since Sep 5, 2023. Today’s closing in interbank market has been recorded as Rs286.76.
The index reached 46,627.08, up 0.85pc, when the trading closed. It witnessed a high level of 46,704.63 points during intraday trading session before closing at 46,232.59 points.
Major activity was witnessed in shares of WorldCall Telecom Limited, Cnergyico PK Limited, Oil and Gas Development Company Limited, Pakistan Petroleum Limited, First Prudential Modaraba and BankIslami Pakistan Limited.
The top advancers of the day include First Punjab Modaraba, Pak-Gulf Leasing Company Limited, Hala Enterprises Limited, and First Prudential Modaraba. PICIC Insurance Limited, SME Leasing Limited, Ashfaq Textile Mills Limited and Habib Insurance Company Limited are among the top four losers.
Rupee maintains recovery drive against dollar in interbank, open markets
