PSX KSE-100 Index bounces back as US-Iran tension simmers down
Pakistan Stock Exchange (PSX) benchmark KSE-100 Index bounced back on Thursday, hitting the 42,000-point mark after tensions seemed to have cooled down between the US and Iran.
The KSE-100 Index of the PSX was trading at 42,373.52 points showing an increase of 1,015.96 points and a percentage increase of 2.46%.
The development comes after the remarks of U.S. President Donald Trump on the Iran crisis eased the fears of investors about further escalation of Middle East geopolitical risks.
Read More: Stocks bleed as KSE-100 drop by more than 1,100 points
The three top traded companies were Bank of Punjab with a volume of 23,266,500 and a share price of 12.30 (0.49), TRG Pakistan Limited with a volume of 11,874,000 and a share price of 27.91 (1.32) and K-Electric Limited with a volume of 11,433,000 and a share price of 4.63 (0.20).
The top three advancers were Arshad Energy Limited with a volume of 16,000 and a share price of 4.20 (1.00), Sally Textile Mills Limited with a volume of 5,500 and a share price of 4.50 (1.00) and First Pak Modarba with a volume of 87,500 and a share price of 2,18 (0.48).
The top three decliners were Drekkar Kingsway Limited with a volume of 337,000 and a share price of 4.86 (-0.85), Philip Morris (Pakistan) Limited with a volume of 140 and a share price of 2,251.50 (-118.50) and Sapphire Fibres Limited with a volume of 1,600 and a share price of 855 (-45.00).
Asia-wide shares rebounded, Japan’s Nikkei 225 rose 2.31pc to 23.739.87, erasing its previous session losses. The index of Topix added 1.63pc to 1.729.05. Meanwhile, in South Korea, the Kospi was hiked by 1.63pc to 2,186.45, while Hong Kong’s Hang Seng index was up 1.35pc during the midday trade.
