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Pakistan Stock Exchange sets 13-year record for single-day trade value

Market recorded trade of shares worth Rs45.7 billion Tuesday

SAMAA | - Posted: Jan 26, 2021 | Last Updated: 3 months ago
Posted: Jan 26, 2021 | Last Updated: 3 months ago
Pakistan Stock Exchange sets 13-year record for single-day trade value

The Pakistan Stock Exchange saw on Tuesday the highest value of shares traded in 13 years, with experts attributing it to the confidence given to investors by the monetary policy announcement.

The Monetary Policy Statement last week provided a look into future policy, which boosted investor confidence.

Over 880 million shares were traded in the stock market Tuesday. A total of 600 million shares were traded in the regular market while 280 million were traded in the futures market.

A 13-year high was achieved when the value of trade at the PSX reached Rs45.7 billion, according to Arif Habib Limited. This does not count a rise in 2017 when Pakistan was included in the MSCI Emerging Markets Index.

Experts say investors appear to be satisfied with Pakistan’s economic outlook therefore they are investing in the stock market.

Trading of cement and technology sector shares remained higher than others. Investors were also reacting to news of rising cement prices.

The PSX gained 200 points and KSE-100 Index closed at 46,287.

Correction: An earlier version of this story incorrectly stated that a record number of stocks were traded on Tuesday. A record value of stocks was traded. This error is regretted and the story has been updated to reflect the changes.

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