KARACHI: Pakistan Stock Exchange (PSX) managed to maintain the bullish run that was witnessed in the last two sessions before Eid holidays as the current week started with news of ease in COVID-19 infection ratio in the county. Investors’ confidence was also boosted by the activity at the corporate front with investments and announcements of revised PSX timings.
Karachi Share Index (KSE-100) ended the day 621.64 points (1.38 per cent) up at 45,796.31 points against the previous closing of 45,174.67 points. The market went as high as 45,807.49 points during intra-day trading, while recorded as low as 45,174.67 points.
Trading volume improved to 437.44million shares today as compared to 245.6m traded in the previous session, according to PSX website data. The daily traded value inclined to Rs20.3billion from Rs9.4bn in the previous session, the data said.
On Saturday, the National Command and Operation Centre (NCOC) decided to ease restrictions that went into effect ahead of Eid. The high-level forum said markets would remain open till 8 pm while the ban on interprovincial and intercity transport would also be lifted.
Similarly, the office timings has been revised to its normal hours with staffers working at 50 per cent capacity. Today NCOC in its daily data said that the positivity rate across the country stood at 8.8 per cent. Meanwhile, the PSX also issued post-Ramzan office and trading timings to facilitate clearing within banking hours with relaxation advised by the NCOC and State Bank of Pakistan (SBP).
The share price of Wyeth Pakistan Limited increased by Rs83.34 to Rs1,194.59 while Philip Morris Pakistan gained Rs55.82 to Rs890.19. On the other hand, Sapphire Textile lost Rs68 today to close at Rs882 while Sapphire Fiber lost Rs67.42 to close at Rs831.58.