KARACHI: Pakistan Stock Exchange (PSX) managed to maintain an upward trend for the second day in a row on positive news regarding the COVID-19 vaccination drive in the country that raises hopes amongst investors.

The Karachi Share Index (KSE-100) ended the day with 305.07 points (0.64 percent) up at 47,758.32 points against the previous day’s closing of 47,453.25 points. The market went as high as 47,807.41 points during intra-day trading while as low as 47,453.25 points.

Overall, market sentiments remained positive as most companies ended the day with an improvement in share prices. Shares of 482 companies were traded, of which 335 registered an increase and 120 recorded a fall, while 27 remained unchanged.

The market capital increased by Rs48.2 billion, while total value traded inclined by Rs6.9 billion to Rs16.19 billion. The volume at the Pakistan stock market moved up from 252 million shares recorded in the previous session to 443 million shares.

It seems investors gained confidence over the measures taken by the government to curb COVID spread, traders and analysts said. After a long time, the market registered an increase in trading activity today, they added.

The share price of Unilever Foods increased by Rs500.50 to Rs16,900, while Bata Pakistan gained Rs75 to Rs1,625. On the other hand, Nestle Pakistan lost Rs31.46 today to close at Rs5,878.54, while Pakistan Tobacco lost Rs25.94 to close at Rs1,256.06.

The author is a senior business and economy journalist . He has worked for leading local and international news organisations.


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