PESHAWAR: Bulls staged a comeback at the Pakistan Stock Exchange (PSX) on Monday, pushing the KSE-100 index up by over 1000 points in intra-day trading.
Pakistan Stock exchange was in the green throughout the day with the benchmark KSE-100 index climbing 761.50 points, buoyed up by Cement, Steel and Oil and Gas sectors stocks after the coal prices crashed in international market and PSX has revert back its software from JADE to KATS.
While the KSE-100 index volume was increased to 193.63 million shares from 138.12 million in the previous session. WTL, BYCO, HUMNL, MLCF and TELE remained volume leaders with cumulative traded volume of 133.10mn shares.
“Going forward, we believe the market is expected to stabilize and record modest gains in the upcoming days,” writes Muzzamil Khan of BMA Capital Management Limited, “Although any further decline in Coal Prices will be the good opportunity to accumulate Cement and Steel Stocks.”