The Pakistan Stocks Market on Thursday continued its domination into the 10th session. With that, it has become the longest rally since January 2018, bringing in total gains of 2423 points. The KSE-100 index gained 447 points to close at 36,412. Another exciting fact was that 467m shares were traded, which was the highest in 147 sessions, till 5 December 2019. The 7.2% rise in the index in 10 straight sessions was also reported to be the third-highest globally.
Foreign selling was still present, though it had diminished to $0.24 million. Institutional buying helped the index gain, while individuals preferred to sell, due to the height of the index. 249 companies saw gains in their shares value, with Nestle and Hinopak Motors the major benefiters. 109 companies saw losses in their shares value, with Unilever Foods and Premier Sugar the major losers.
Top Volume Stocks were those of Unity Foods, Pak Elektron and TRG Ltd, contributing a total of 119m shares.
This was all possible due to lots of positive news and a dearth of negative one. The State Bank of Pakistan’s policy cut of 100 basis points, and the slowing down of the coronavirus, have boosted the stock exchange a lot. The Stocks have had 6-Month High in volume marking a great relief to the Economy.
