Pakistan Stock Market Surges by Over 1165 Points After Trump’s Response

Bulls regained control over the Pakistan Stock exchange as the de-escalation in the geo-political tension between the United States and Iran helped the market resume the strong rally. The benchmark index, KSE-100 went up by 1100 points during the day as the war mongering ended by Trump’s toned no retaliation response.

The market touched an intraday high of 1,199 points.

The index went into the positive zone right from the opening. At the end of the day, the benchmark KSE-100 Index closed 1165 points or 2.82% higher to settle at 42,523 points.

According to the experts, the market saw the rally following US President Donald Trump’s speech hinting no major retaliation in response to Iranian missile attacks on US military bases in Iraq. Whereas the international oil prices corrected 7% from the peak. The experts termed this as a sigh of relief for the markets, region and the whole world.

There was an uncertainty in the whole market during this week on which the investors opted to sell.

Overall, 362.49 million shares were traded today, while 249 million shares were traded in KSE-100. Shares of 366 companies were traded overall. At the end of the day, 303 stocks closed higher, 51 declined and 12 remained unchanged.

The Banking, E&P, Fertilizer, Power and Cement were the major positive contributors which added 809 points to the Index.

Top volume leaders of the day

BOP 12.57 12.73 12.19 .76 53,074,500
KEL 4.73 4.77 4.54 .3 33,460,500
UNITY 16.14 16.19 15.19 .95 24,311,000
WTL 1.33 1.4 1.29 .03 19,863,500
STPL 10.60 10.64 10.02 .96 13,343,500
TRG 27.91 27.91 27.5 1.32 11,898,500
MLCF 22.51 22.51 21.95 1.07 11,789,500