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PSX: Govt. decision to accept SC verdict on Panamagate shoos-off bears!

SANA MAHMOOD

KARACHI: The PSX – that by and large remained in the red since Panamagate hearing commenced – turned bullish today.

Buyers were motivated to learn that Government was ready to accept Panamagate verdict.  

Though most of the investors remained on the sidelines yet KSE-100 Index gained 0.52 percent by the close touching 45, 294 points.  

Today’s trading was led by Technology, Communication and Textile sectors with 16.6 million, 13.9 million and 11.4 million shares traded respectively.

During the day Rs. 5.2 billion worth of 57 million shares were traded. Of the 350 companies that traded, value of 18 remained stagnant, 128 plummeted while the rest gained. 

The top five leaders today were : TRG Pak Ltd., 12.5m shares (+4.77pc); Dewan Motors, 8.4m shares (+3.81pc); Azgard Nine, 6.3m shares (+5.56pc); Engro Polymer, 5.8m shares (+2.92pc); Aisha Steel Mills,  5.4m shares (+1.34pc).

 

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.