Economy

Absolute Domination by the Bulls

Karachi, July 03, 2019: Pakistan stock market continued its upward momentum, taking inspiration from yesterday’s close amid anticipation of the approval of bailout package worth $6 billion from the IMF executive board due today.

On Wednesday At the end of the session, the pakistan stock exchange’s (psx) benchmark 100-share index recorded an increase of 589.44 points – with the index closing at 34,896.55 points.

cement stocks closed broadly higher on the back of an increase in cement prices by Rs. 50. DGKC closed higher 4.99 percent while luck increase 2.96 percent and MLCF went up 5 percent market participation for the 100 index increased to 99 million from 74 million in the previous session (34 percent on d/d basis). A major contribution to total market volume came from lotchem, trg, and unity churning 27 million shares out of the total market all share volume of 130 million shares. Daily traded value for the 100 index increased/decreased to USD 27 million from USD 18 million in the previous session.

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