PSX: Lessening political noise lets bulls stay put!

KARACHI: As oath-taking of the interim cabinet today has been reckoned as a positive movement by investors, Benchmark KSE-100 closed in the green again (43,703) with an augmentation of 434 points.

Over Rs. 10b worth of 166.5m shares were traded today. Value of the shares of 180 companies increased, 127 plummeted while 29 remained stagnant.

Commercial Banking and Cement Sectors led the trade today with 36.4m and 28.7m shares changing hands respectively. Today’s top five traders of the shares were Bank of Punjab: 20.3m shares (+1.82pc); Pakistan Elektron Ltd., 14.3m shares (+1.59pc); Sui Southern Gas Co Ltd., 13.6m shares (+4.20pc); Fauji Cement Co Ltd., 10.1m shares (+2.97pc); D. G. Khan Cement Co. Ltd., 9.5m shares (+3.60pc).

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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.