Bulls dominate PSX as benchmark index gains 886 points

KARACHI: Pakistan Stocks Exchange (PSX) continued its positive momentum on Thursday as KSE-100 index gained 866 points, ARY News reported.

The benchmark index closed at 31,837 points as compared to 30,971.27 points on the last working day.

A total of 216,513,232 shares were traded in the stock market.

As many as 352 companies transacted shares in the stock market on Thursday, out of which 276 recorded gain and 57 sustained losses whereas the share price of 19 companies remained unchanged.

Meanwhile, global stock markets climbed Thursday as traders reacted to data showing the coronavirus outbreak may be close to reaching its peak.

Crude futures meanwhile surged waiting to see if top producers will agree to cut oil output as COVID-19 slashes global demand.

The upbeat tone sent all three main indices on Wall Street surging Wednesday, and the gains extended into Asia and Europe on Thursday, although the latter’s gains had cooled somewhat by the half-way stage.

Around 1100 GMT, London was up 0.9 percent, Frankfurt gained 0.4 percent, while Paris fell 0.3 percent.

Hong Kong, Singapore and Seoul closed up more than one percent apiece, Sydney and Mumbai each jumped more than three percent and Bangkok climbed more than two percent.

Shanghai added 0.4 percent, but Tokyo was barely moved.