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PSX gains 222pts, up 0.73% to end in green zone

PSX gains 222pts, up 0.73% to end in green zone

KARACHI: The Karachi Stock Exchange benchmark 100-index gained 222.10 points or 0.73 percent to reach 30786.60 points and volume of 85,224,570 shares on Wednesday.

On Tuesday, benchmark 100-index lost 113.18 points to reach 30564.50 points and volume of 172,840,640 shares.

High and low were 30898.30 and 30474.37 respectively. Total volume traded in the market was 85,224,570 shares.

On Monday, PSX resumed its downward trend as the index fell well below the barrier of 31,000. The bourse was down contrary to trend in regional markets where the Chinese Market closed up 2.20%. Global prices of crude oil were also on the raise with Brent Crude inched up above $34.

Earlier Haroon Askari, Deputy Managing Director, Pakistan Stock Exchange (PSX) said that stock exchange was a great platform to raise capital for business expansion and growth.
“Raising capital from the capital market was more beneficial for the private sector as it also increased the value of equity capital of well-performing companies,” he said in a presentation to the business community during a seminar on the formation of PSX and its benefits, especially for small investors. Islamabad Chamber of Commerce and Industry organized the seminar in collaboration with Pakistan Stock Exchange (PSX).

Currently, per capita income is $1,500, while Pakistan’s more than 50 percent economy is undocumented and if that is added, per capita income reaches at $2,250 to $2,500 while that of the middle class is around $4,000 to $5,000 per month.