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PSX closes bullish with over 434 points gain
A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

PSX closes bullish with over 434 points gain

ARACHI: The Pakistan Stock Exchange on Thursday witnessed a bullish day as investors rejoiced over the news of Saudi Arabia releasing agreed financial assistance soon.

The index rallied and gained more than 480 points in intra-day trading, finishing the day in the black.

The KSE-100 index opened on a positive note and continued its journey towards the north, driven by buying interest from investors. Sentiments were further buoyed by the Chinese assurance that a financial package was currently being worked out to ease Pakistan’s external-sector challenges.

At the end of trading, the benchmark KSE 100-share Index recorded an increase of 434.58 points or 1.06% to settle at 41,428.63.

Overall, trading volumes decreased to 254.9 million shares compared with Wednesday’s tally of 255.17 million. The value of shares traded during the day was Rs11 billion.

Shares of 387 companies were traded. At the end of the day, 250 stocks closed higher, 121 declined and 16 remained unchanged.

Lotte Chemical XD was the volume leader with 28.4 million shares, gaining Rs0.31 to close at Rs19.81. It was followed by TRG Pakistan with 17.5 million shares, gaining Rs0.37 to close at Rs30.77 and Pak Elektron with 17.3 million shares, gaining Rs1.28 to close at Rs33.31.