Pak stock exchange sets new record of daily traded volume

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Islamabad, May 26 (PTI) The Pakistan Stock Exchange (PSX) on Wednesday registered an all-time high daily trading volume days after the government announced that the GDP would grow by nearly 4 per cent during the current fiscal year.

The capital market showed a record high traded turnover of 1.56 billion shares as the traded value increased by Rs 4.83 billion to Rs 28.34 billion, the PSX reported on its website.

The all-share volume increased by 885.98 million to 1,563.36 million shares, while the market cap rose by Rs 85.36 billion. The total number of companies traded was 423 compared to 418 during the previous session - 284 closed up, 125 closed down and 14 remained unchanged.

Planning Minister Asad Umar hailed the “new daily traded volume record” set by the capital market. “Today's volume exceeded the previous record by 39 per cent. Market reacting to signs of sustained recovery,” he tweeted.

Umar said that it showed that the government was successful in containing the third wave of COVID-19 but hastened to warn that the “risk still remains”.

The PSX report showed that the bullish trend in share prices parked the benchmark KSE-100 index at the 46,812.31 level with a gain of 511.65 points.

The news came just days after the government said that the economy was growing by 3.94 percent in the first 10 month was expected to touch the 4 percent mark by the end of the fiscal year on June 30. PTI SH AMS