Index stays positive on good news in cyclical sectors
Business
February 4, 2021
The capital market on Wednesday surged sharply where activity mostly centred on cement, oil marketing companies and power sector stocks on the back of positive developments, which encouraged investors to place sizeable deals, dealers said.
The benchmark KSE-100 shares index at one stage crossed the 47,000 barrier, and hit session high of 47,123 points. This barrier was crossed almost after 3.5 years. The last time it was broken in August 2017. However, selling in some blue chips and investment stocks clipped the gains, forcing the index to close below 47,000 points level.
Pakistan Stock Exchange (PSX) KSE-100 index gained 0.76 percent or 353.29 points to close at 46,933.63 points. Volumes increased 616.309 million shares, from 468.062 million shares on Tuesday. KSE-30 shares index rose 0.88 percent or 170.19 points to end at 19,568.76 points level.