KSE-100 Index jumps 824.29pts to close at 36803.10pts

KARACHI: Pakistan Stock Exchange (PSX) on Monday noted a bullish trend as KSE-100 index went up by 824.29 points to close at 36803.10 points.

Clouds of uncertainty have started moving away as KSE-100 index have reached a six month high. On the first day of the week the stocks gained 2.24% improvement and restored 9 psychological limits.

The market crossed figure 0f 3000 in 8 sessions today while the market also added Rs 450 to its shares.

Stock Market since October 1, 2019 is being termed as best performing market (No.1) and since October 1, 2019 index has given a return of 14.10 percent to-date.

While PSX since July 1, 2019 gained 8.26 percent and on sixth rung of ladder (at No. 6). Last time in November 2018 index gains 11.4% or 4289 points

Earlier, the capital market in previous week recorded appreciable gain of 1600 points placing index at almost six month high level with aggressive buying from foreign and local fund houses on back of improvement in macroeconomic indicators and cut in government backed securities.

As per details, the index at Pakistan Stock Exchange closed at 35,978 points – a 6 month high (124 trading sessions), and up by 1601 points during the previous week.

Foreign buying was witnessed week clocking at 4.5 million dollars compared to a net sell of 3.1 million dollars last week. Buying was witnessed in Fertilizer amounting to 6.7 million dollars and OMCs 3.2 million dollars.

According to a leading trader the KSE-100 index continued its upward journey which commenced from the preceding week provided a return of 4.7 percent. The bull-run staged in mainly because of decline in government owned securities-National Savings Scheme, cut by 90 to 200 basis approximately.