Daily Times

On Wednesday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) closed modestly positive following a tumultuous trading session that had declined for the previous four sessions.

The KSE-100 began the day with a low of 40,135, down 253 points from its opening price. Stocks were able to recoup some of their lost territories after some purchasing activity peaked near the 40,000-point mark.

The KSE-100 index closed at 40,459.70, up 70.63 points or 0.17pc on Wednesday from the previous day’s close. There was bloodshed on Tuesday as the benchmark index closed 978 points lower as political uncertainty and Fitch Ratings’ downgrade of Pakistan’s outlook worsened investor anxiety.

Even more worrisome for currency is its continued decline versus the US dollar at 224.91 in interbank trading, a 1.3pc or Rs2.93 drop. This marks the currency’s lowest-ever closing level, surpassing the previous low set on Tuesday by a significant margin.

KSE 100 index is being driven higher by oil and gas exploration (73.27), banking (29.002 points), as well as oil and gas marketing (15.85 points).

The all-stock index’s volume fell to 141.75m shares on Wednesday from 194.87m on Tuesday. Also, the value of shares traded declined from Rs5.78b to Rs4.98b. There were 13.37m shares of TPL Properties, followed by 10.76m shares of WorldCall Telecom and 7.95m of Cnergyico PK.

Three hundred twenty-five stocks were traded on Wednesday; 136 saw their shares rise, 169 saw their shares decrease, and 20 saw their shares remain steady.

On Wednesday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) closed modestly positive following a tumultuous trading session that had declined for the previous four sessions.

The KSE-100 began the day with a low of 40,135, down 253 points from its opening price. Stocks were able to recoup some of their lost territories after some purchasing activity peaked near the 40,000-point mark.

The KSE-100 index closed at 40,459.70, up 70.63 points or 0.17pc on Wednesday from the previous day’s close. There was bloodshed on Tuesday as the benchmark index closed 978 points lower as political uncertainty and Fitch Ratings’ downgrade of Pakistan’s outlook worsened investor anxiety.

Even more worrisome for currency is its continued decline versus the US dollar at 224.91 in interbank trading, a 1.3pc or Rs2.93 drop. This marks the currency’s lowest-ever closing level, surpassing the previous low set on Tuesday by a significant margin.

KSE 100 index is being driven higher by oil and gas exploration (73.27), banking (29.002 points), as well as oil and gas marketing (15.85 points).

The all-stock index’s volume fell to 141.75m shares on Wednesday from 194.87m on Tuesday. Also, the value of shares traded declined from Rs5.78b to Rs4.98b. There were 13.37m shares of TPL Properties, followed by 10.76m shares of WorldCall Telecom and 7.95m of Cnergyico PK.

Three hundred twenty-five stocks were traded on Wednesday; 136 saw their shares rise, 169 saw their shares decrease, and 20 saw their shares remain steady.