The Pakistan Stock Exchange (PSX) on Wednesday recorded an all-time high daily trading volume, with Planning Minister Asad Umar attributing the development to the market reacting to signs of sustained economic recovery.
The capital markets remained positive throughout today's session as a variety of positive developments increased investors’ risk appetite, registered by a record high traded turnover of 1.56 billion shares.
"New daily traded volume record set on the [PSX]. Today's volume exceeded previous record by 39 per cent," Umar tweeted.
He said it was reflective of the market reacting to "signs of sustained recovery" and "the successful containment of the Covid 3rd wave ... though risk still remains".
In Wednesday's session, WTL carried the lantern of gains for the investors, which added volumes of 707 million shares to the overall trading activity — almost half of the total intraday volume, while achieving a steep gain of 41.23pc in its share price, a closing report by Aba Ali Habib said.
The bullish trend in share prices parked the benchmark KSE-100 index at the 46,812.31 level with a gain of 511.65 points on Wednesday.
The index remained positive throughout the session, touching an intraday high of 46,855.59
Of the 97 traded companies in the KSE-100 index, 77 closed up and 20 closed down. The total volume traded for the benchmark index was 306.27m shares.
Sectors propping up the index were Commercial Banks with 147 points, Technology and Communication with 99 points, Oil & Gas Exploration Companies with 73 points, Textile Composite with 46 points and Food and Personal Care Products with 28 points.
The most points added to the index were by TRG which contributed 72, followed by OGDC with 45 points, PPL with 30, MCB with 29 and BAFL with 28.
Sector wise, the index was let down by Cement with six points, Paper and Board with five points, Tobacco with four points, Glass and Ceramics with three points and Chemical with two points.
The most points taken off the index were by FFC which stripped it of 22 points followed by FCCL with nine points, MLCF with nine points, EPCL with five points and PAKT with four points.
The all-share volume increased by 885.98m to 1,563.36m Shares, while the market cap rose by Rs85.36 billion.
The total number of companies traded was 423 compared to 418 during the previous session. Of the scrips traded, 284 closed up, 125 closed down, and 14 remained unchanged.
The traded value increased by Rs4.83 billion to Rs28.34 billion.