KARACHI: The Pakistan Stock Exchange (PSX) remained under the bulls control for the second day in a row as an extension of improvement in volumes, and selective buying started yesterday. However, the benchmark KSE-100 Index failed to sustain levels above 45,000 points levels as COVID-19 related fatalities shown an increase today.
The benchmark KSE-100 Index advanced 380.02 points (0.85 percent) to close at 44,943.61 points against the previous closing of 44,563.59 points. The market went as high as 45,172.35 points during intraday trading while recording as low as 44,563.59 points.
According to PSX’s website data, trading volume improved to 259.86million shares compared to 221.5m traded in the previous session. The daily traded value also increased to Rs14.8billion from Rs10bn during the last session, the data said.
There was room for a further increase due to a week-long depreciation in share prices, but the prevailing fear related to COVID-19 infection spread kept the cap on the market, traders and analysts said. However, the attractive prices helped the market to close in a positive zone almost at the 45,000 points mark despite the report of an increase in COVID fatality in the country reported today compared to the last two days as the number of casualties by COVID was below 100 levels in last two days, they added.
According to the latest statistics released by the National Command and Operation Centre (NCOC), In the last 24 hours, 4,113 people tested positive for COVID-19 while 119 lost their lives.
The share price of Island Textile increased by Rs149.99 to Rs2,199.99, while Sapphire Textile gained Rs63 to Rs918. On the other hand, AKD Capital lost Rs33.61 today to close at Rs456.38, while Shield Corporation lost Rs19 to close at Rs366.50.
