Daily Stock Report: PSX Gains Over 950 Points Continuing Upward Trend

The PSX, after weeks of volatility over the Panama Case verdict, responded positively to the result that was announced yesterday. The market jumped rapidly above the 49,500 mark.

KSE-100 recorded a rise of +965.09 points or + 1.98% by the end of the trading session to close at 49,708.65 points.

Volumes increased as 159 million shares worth Rs. 18.19 billion were traded by the end of the day.

Volumes increased dramatically after the Panama Case verdict as investors gained more confidence. Chemical, engineering, technology & communication and cement sector attracted investor interest.

Shares of 398 companies were traded. At the end of the day, 299 stocks closed higher, 86 declined while 13 remained unchanged.

Engro Polymer was the leader with 37.65 million shares, gaining Rs 1.30 to close at Rs 27.48.

Followed by TRG Pakistan Ltd with 32.43 million shares, gaining Rs 2.64 to close at Rs 55.47, Azgard Nine Ltd with 18.12 million shares, gaining Rs 1.00 to close at Rs 13.13 and Aisha Steel Mill with 16.45 million shares, gaining Rs 1.21 to close at Rs25.44.

Major gainers of the market were:

Major losers of the market were:

Foreign investors calmed down after immense selling in the last couple of sessions. They were still in selling mode but figures were nominal, local fund displayed heavy selling.