Another new record at PSX as 2.2 billion shares change hands

Published May 27, 2021
The technology and communication sector continued to remain in the limelight at the PSX on Thursday. — Reuters/File
The technology and communication sector continued to remain in the limelight at the PSX on Thursday. — Reuters/File

The Pakistan Stock Exchange (PSX) saw an all-time high daily trading volume for the second consecutive day on Thursday, with 2.21 billion shares traded in a single session.

A day earlier, the PSX had made history with a record-high 1.56bn shares traded.

On Thursday, the market today managed to break yesterday’s volume record by a huge margin of ~654 million shares, a closing note by Aba Ali Habib securities said.

"Pakistan Stock Exchange adds yet another feather in its cap by attracting all-time high trading volume of 2.21 billion shares in [a] single day," it noted.

However, the equities witnessed a volatile session today, with the benchmark KSE-100 index ending the day at 46,791 points with a loss of 21.56 points, despite gaining more than 391 points in early trading hours.

The technology and communication sector continued to remain in the limelight on Thursday, with 950m shares, or 43pc of the aggregate trading, captured by the penny stock WorldCall Telecom (WTL) alone — the highest-ever volume recorded in a scrip, according to a daily roundup by Ismail Iqbal securities.

According to the report, fertilisers, banks and autos remained the major laggards to the index, cumulatively shedding 54 points.

"Better growth expectations and populist budget proposal will continue to strengthen investors’ confidence in [the] bourse, however, tomorrow’s trading may see some range-bound activity amid MPC anticipation," Aba Ali Habib said.

PTI Senator Faisal Javed Khan on Twitter hailed what he termed "yet another great news".

On Wednesday, the KSE-100 index jumped 511.65 points, or 1.11pc, to settle at 46,812.31, with Planning Minister Asad Umar attributing the record-high daily trading volume to the market reacting to signs of sustained economic recovery and "the successful containment of the Covid 3rd wave".

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