Trade at the Pakistan Stock Exchange opened on a bullish note with the benchmark KSE-100 Index breaching the 43,000 points level at 10 am on Friday, a level not seen since July 30, 2018
ISLAMABAD (Pakistan Point News / Online - 10th January, 2020) Trade at the Pakistan Stock Exchange opened on a bullish note with the benchmark KSE-100 Index breaching the 43,000 points level at 10 am on Friday, a level not seen since July 30, 2018.Investors' sentiment improved as chances of an Iran-US war got slimmer in the last couple of days, as evident from the previous day's gain of more than 1,100 points.Markets across the world shed points following the assassination of a top Iranian commander in a US drone strike, leading to fears of a war between the two countries.
Investors offloaded their stocks and parked their savings in safe havens like gold, which saw its price increase significantly. However, most analysts believed that was a temporary phenomenon and investors would return to capital markets once tensions between Iran and America eased.With a gain of more than 550 points, the market was hovering above the 43,000-point level when this report was filed (at 11:07am). Among the most active stocks were those of Bank of Punjab, Fauji Fertilizer, TRG, Hascol and Unity.The market has been giving a return of 6% this year (in the first 10 days of January) and 11% last year. Early Friday trade saw a volume of 155 million shares traded, the value of which comes to 7.6 billion.
