PSX 100-index Jumps by 944 Points today
Karachi (May 23, 2019): The Pakistan Stock Exchange 100-index continues rally amid speculations and decreasing foreign reserves of the country. The index continue bluish trend for the contours two days wherein it gained 1195 points yesterday while it gained another 944 points to close at 35,581.34.
The volume leaders were BOP, UNITY, KEL LOTCHEM, WTL, MLCF and PIBTL whose share trading has been recorded over 10 million each, today.
The 100-index closed in green while the volumes also jump up by 11.80% on day-on-day basis as investors grab stocks in anticipation of a support fund from government. It is pertinent that the government support fund has not yet started buying, as per market resources. However, the sentiments have turned positive on coming of such news.
Cement Sector gained 4.94% in its market cap even though retail price of cement declined. Some analysts claimed that the competition in the cement sector as well as increased production capacities are taking the prices low.
Foreign investors offloaded 3.48 million yesterday where Oil and Gas Exploration Sector felt the major hit. A major result of Hino Pakistan (PSX:HINO) came today wherein they have declared a loss of Rs. 70 per share for the year ended March 31, 2019, still the share managed to close in green at Rs. 342.14 (+10.34).