PSX: Stocks continue recovery with KSE-100 hovering close to 40,000

The Pakistan Stock Exchange (PSX) on Wednesday continued its recovery from last day’s trading, ending the day on a positive note.

The benchmark KSE 100 Index gained 722 points, or 1.85%, by the close of trading to reach 39,849.

Close to 270.1 million shares had changed hands by the end of the session, with a total worth of nearly Rs9.7 billion.

Stocks of 374 companies were traded, of which 288 gained in value, 72 declined and 14 remained unchanged.

Also read: Stocks make modest recovery, but KSE-100 remains around 39,000

Volumes were led by Hascol, with 58.7 million shares traded. Unity Foods Limited, TRG Pakistan, Fauji Foods Limited (FFL) and Power Cements Ltd closed out the top five symbols traded, with volumes of 34.5m, 23.9m, 19.2m and 19.08m, respectively.

Hascol share price was up 6.12%, trading at Rs16.82; Unity Foods Ltd share price was up 7.45%, trading at Rs15.86; TRG share price was up 7.45%, trading at Rs45.19; FFL share price was up 7.13%, trading at Rs15.33; while Power Cement share price was up 0.92%, trading at Rs9.06.

The index started a day with an upward trend, however, minutes after the opening, the market started to see turbulence. The index reached its lowest point at 10:14am before slowly recovering and ending the day on a positive note.