اردو
  • Pakistan Stock Exchange touches record high of 49,876 points

    Pakistan Stock Exchange Pakistan Stock Exchange

    The Pakistan Stock Exchange (PSX) on Monday closed at the highest level in its history at 49,876 points, with a net increase of 511 points on the index.

    The benchmark KSE-100 shares index touched a high point of 49937.25 points during the day, with 49364.83 points as the day's low.

    Total volume of shares traded stood at 600 million, with a total volume of Rs 24.4756 billion.

    Gainers beat losers as 259 companies' shares rate was in the green, with 141 companies' shares traded in red. PSX's data also showed that shares of 417 companies were traded, out of which 17 companies share values remained unchanged.

    According to a PSX report, the main contributors were levy of anti-dumping duty on steel products, increase in crude oil and gold prices in the international market and the purchase of 40 per cent PSX equity by a Chinese consortium.

    Active sectors witnessed during the day's trading were power generation, communication, chemicals, banking, cement and the oil and gas sector.

    The rupee also gained 30 paisa and traded against the US dollar at Rs107.90 in the open currency market.

    Earlier in December, a Chinese consortium acquired a 40pc stake in the PSX. At least 17 entities had expressed an interest in the PSX, whose benchmark stock index was one of the best performing indices worldwide in 2016.

    The consortium comprises three Chinese exchanges -- China Financial Futures Exchange Company Limited, the Shanghai Stock Exchange, the Shenzhen Stock Exchange and two local financial institutions - Pak-China Investment Company Limited and Habib Bank Limited.

    Following the sale, the company plans to offer 20pc of its shares to the public, officials said.