Midday report: KSE-100 surges nearly 900 points to cross 50,700
The Pakistan Stock Exchange has started the week on a positive note, with the benchmark KSE-100 index surging by 880 points, or 1.77 per cent, by the halfway mark of the trading session to reach 50,791.
After hovering below the 50,000 threshold for a few days following the Panama case verdict, the benchmark index smashed the barrier in today’s session on the back of activity in commercial banking stocks.
748.6 million shares had changed hands by the middle of the session, with a total worth of nearly Rs8.95 billion.
Stocks of 362 companies were traded, of which 251 gained in value, 98 declined and 13 remained unchanged.
Volumes were led by:
Engro Polymer: 15.8m shares traded [-1.49pc];
Aisha Steel Mill: 14.3m shares traded [+4.38pc];
Bank Al-Falah: 7.4m shares traded [+3.10pc];
Bank of Punjab: 7.36m shares traded [+0.65pc] ; and,
Fauji Cement: 5.82m shares traded [+1.82pc]
This is a mid-day report that may not reflect recent changes in market movement. For a more detailed assessment of market activity, read our full-day report published after market close at 3.30pm PST.