KARACHI – The Pakistan Stock Exchange (PSX) was ruled by bulls on Wednesday as the KSE-100 index has crossed the 87,000 points barrier.
The 100 index benchmark gained 727.96 points to close at 87,194.53 as compared to previous day’s close of 86,466.57 points.
The shares of companies such as HUBCO, KEL, PPL and OGDC, ATRL were traded in the green, soaring the stocks to record high.
Experts have attributed the bullish momentum to anticipated cut in policy rate and decline in inflation rate. Furthermore, political stability in the country has also sparked positive sentiments among the investors.
Trading volumes exceeded 424 million shares, with a total market value of Rs17.329 billion.
As many as 447 companies transacted their shares in the KSE-100, 214 of them registered gains and 173 sustained losses, whereas the share price of 60 companies saw unchanged.
The three top trading companies were K-Electric Limited with 207,635,816 shares at Rs4.67 per share, WorldCall Telecom with 42,917,587 shares at Rs1.29 per share and Pak International Bulk with 33,969,303 shares at Rs5.96 per share.
On Tuesday, the PSX also witnessed bullish trend as aggressive buying was witnessed by local investors. The KSE-100 index had increased by 409.06 points or 0.48% to close at 86,466.58.
