PSX crosses historic milestone of 60,000 points

KARACHI: The Pakistan Stock Exchange (PSX) crossed another milestone on Tuesday after it crossed the historic 60,000 points level.

The KSE 100-index reached to 60,730.26 points by gaining 918.92 more points, a positive change of 1.54 percent, PSX reported.

A total of 779,671,060 shares valuing Rs 26.138 billion were traded during the day as compared to 657,580,760 shares valuing Rs 20.272 billion the last day.

Some 392 companies transacted their shares in the stock market; 177 of them recorded gains and 200 sustained losses, whereas the share prices of 15 remained unchanged.

The three top-trading companies were Kohinoor Spinning with 79,242,500 shares at Rs4.02 per share, WorldCall Telecom with 57,449,984 shares at Rs 1.56 per share and Bank of Punjab with 44,327,667 shares at Rs 5.45 per share.

Hoechst Pak Ltd witnessed a maximum increase of Rs 85.00 per share price, closing at Rs 1,348.00, whereas the runner-up was Ismail Industries with a Rs 80.28 rise in its per share price to Rs 1,157.00.

Unilever Foods witnessed a maximum decrease of Rs 100.00 per share closing at Rs 22,400.00, followed by Rafhan Maize with a Rs 57.05 decline to close at Rs 10,333.33.

In November alone, the KSE-100 index has hiked by more than 8,500 points. Analysts said the equities market has been thriving since the successful first review with the International Monetary Fund (IMF), which will lead to the release of the next loan tranche.