Political uncertainty leads to 330 points slump in KSE-100 Index

KARACHI: Pakistan Stock Exchange (PSX) managed to maintain an upward trend for the third day in a row on positive news from the manufacturing industrial front. The benchmark index managed to consolidate above 47,500 points mark despite some negative news with worrying COVID situation in the country.

The Karachi Share Index (KSE-100) ended the day with 136.79 points (0.29 per cent) up at 47,628.26 points against the previous closing of 47,491.47 points. The market went as high as 47,736.13 points during intra-day trading while as low as 47,388.55 points. Trading volumes inched down to 506.2 million shares today as compared to 508.2 million shares during the previous trading day, while the daily traded value also declined to Rs15.48 billion from Rs16.04 billion in the previous session, the data said.

According to data issued by the Pakistan Bureau of Statistics (PBS) the Large Scale Manufacturing Industries (LSMI) production grew up by 36.84 percent on a year-on-year basis during May 2021 as compared to the corresponding month of last year.

Meanwhile, during the first eleven months of the current fiscal year, the overall LSM production increased by 14.57 percent compared to the corresponding period of last fiscal year.

The share price of Wyeth Pakistan Limited increased by Rs150.37 to Rs2,155.37, while Unilever Foods gained Rs140 to Rs16,489. On the other hand, Rafhan Maize lost Rs450 today to close at Rs9,950 while Pakistan Tobacco lost Rs71.17 to close at Rs1,226.83.

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