KARACHI: The Pakistan stock market despite the ongoing depression due to COVID-19 related lockdown in Sindh managed to stage strong recovery on Monday.

Similar to the previous week the market found support at 47,000 points level and helped the benchmark KSE-100 index to elevate above the psychological barrier before noon. With fresh investment and selective buying kept the market from falling back into negative territory throughout the trading day.

KSE-100 Index closed the day with a gain of 397.96 points (0.85percent), reached 47,453.25 points compared to 47,055.29 points the previous trading day.

Overall, market sentiments remained positive as most companies ended the day with improvement in share prices. Shares of 486 companies were traded, of which 352 registered an increase and 118 recorded a fall, while 16 remained unchanged.

The market capital increased by Rs65 billion, while total value traded declined by Rs4.5 billion to Rs9.2 billion. The volume at Pakistan stock market moved down from 399 million shares recorded in the previous session to 252 million shares.

The share price of Colgate Palmolive increased by Rs43.54 to Rs2,854.26, while AKD Hospitality gained Rs29.56 to Rs423.70. On the other hand, Bata Pakistan lost Rs80 today to close at Rs1,550, while Gatron Ind lost Rs36.01 to close at Rs454.

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


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