Karachi: Pakistan Stock Exchange (PSX) managed to close in positive today as investors remained active in fresh buying in dips. Positive news coming from the macro-economic front and the decrease in political tensions has somewhat improved the investors’ sentiment.
The benchmark Index managed to breach the 45,500 mark twice during the day. However, the Karachi Share Index (KSE-100) ended the day with up 593.25 points (1.32 percent) with closing at 45,450.31 points against the previous closing of 44,857.06 points. The market went as high as 45,541.04 points during intra-day trading, while recording as low as 44,857.06 points.
Trading volume increased to 510.3 million shares today as compared to 408.4 million traded in the previous session, according to PSX website data. The daily traded value increased to Rs 24.7 billion from Rs 19.9 billion in the previous session, the data said.
The rift between the Pakistan Democratic Movement (PDM) on the long march has helped in fizzling out the political instability. The traders and analyst said that investors are always concerned about the stability of economy. Encouraging numbers in the large scale manufacturing sector has created a healthy atmosphere for investment, they added.
The overall output of large-scale manufacturing industries (LSMI) has increased by 7.85% in the first seven months of fiscal year 2021 (July 2020 to January 2021) compared to the same period last year.
The share price of Sunrays Textile increased by Rs 63.74 to Rs 936.74, while Indus Motor Company gained Rs 52.09 to Rs 1,081.05. On the other hand, Rafhan Maize lost Rs 149.01 today to close at Rs 9,749.99, while Philip Morris Pakistan lost Rs 75 to close at Rs 1,200.