Pakistani stocks have posted a big rebound today with the KSE-100 index gaining over 4800 points after equities revived following news of Trump hinting at returning to Pakistan for second phase US-Iran Talks.
The 100-Index of the Pakistan Stock Exchange (PSX) rose by 4,862 points or 2.94 percent to reach 170,497 points as compared to 165,634 points on the last trading day.
Today’s gains come after Trump on Tuesday said: “Something could be happening over the next two days. We’re more inclined to go to Pakistan. You should stay there, really. Why should we go to some country that has nothing to do with it? The field marshal is doing a great job. He’s fantastic. He’s doing a great job — that’s why it’s more likely.”
His remarks point to a possible preference within the US administration for Pakistan as a venue for future Iran-related discussions, rather than traditional third-country locations.
A total of 731 million shares were traded so far, whereas the price of shares stood at Rs. 38.6 billion at the time of writing.
At 1:30 PM, PSX was up 4,364 points at 169,998.
As many as 565 companies transacted their shares in the stock market, 410 of them recorded gains and 61 sustained losses, whereas the share price of 94 companies remained unchanged.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| KEL | 7.74 | 7.85 | 7.68 | 0.15 | 54,455,390 |
| WTL | 1.54 | 1.6 | 1.52 | -0.01 | 49,644,848 |
| BOP | 34.04 | 34.49 | 33.36 | 2.38 | 45,602,469 |
| TSBL | 2.15 | 2.22 | 2.1 | 0.23 | 43,706,135 |
| PAEL | 42.1 | 42.74 | 40.45 | 2.7 | 30,366,248 |
| SSGC | 28.55 | 28.55 | 26.55 | 2.6 | 28,100,533 |
| FNEL | 1.42 | 1.44 | 1.39 | 0.09 | 24,732,324 |
This is an intraday market update.