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KSE-100 index jumps 135 points despite Year-end sale by Insurance companies
June 30, 2021
Pakistan Stock Exchange (PSX) witnessed a topsy-turvy trading session on Tuesday,as heavy selling pressure by Insurance Companies shadowed budget-approval optimism at the market.
On Tuesday, the index began the session on a positive note right after the opening bell and crossed the 47,500-point mark briefly after gaining over 500 points. However, failing to sustain the momentum, the index reversed its trajectory and pared earlier gains to touch intra-day low of 46,986.47 level.
The Index traded in a range of 522.35 points or 1.11 percent of previous close before settling at 47,137.77 level, posting at 135 points gain.
KARACHI: A day after the ruthless bloodbath at the stock market that had seen the index in deep red, the bulls made a strong comeback on Tuesday to drive out the bears from almost all sectors.
The KSE-100 index flew to intraday high by 506 points. It closed up by 135 points, or 0.29 per cent, at 47,138.
In early trade, investors took heart and were encouraged to buy at attractive levels as the traders were unanimous in the belief that the Federal Budget 2021-22 would sail through the lower house of parliament. The National Assembly passed the budget for the new fiscal year late afternoon by a majority vote after the speaker put it to voice vote.
Market watch: Budget approval lifts KSE-100 upward tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
KARACHI: Meezan Bank, Pakistan’s leading Islamic bank has signed a supply agreement for green energy, power solution with Energy N Automation Ltd , a company of Jaffer Business Systems , a.