PSX gains 643.26 points as JIT files report with SC

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Karachi: Pakistan Stock Exchange (PSX) on Monday opened to the looming uncertainty surrounding the conclusion of the JIT investigation into the Prime Ministers family regarding Panama Leaks, which was filed in the Supreme Court today.

Till the filing of this report, the stock exchange had risen by midday rising 643.26 points to reach 46,845.61 points. Among the leaders was Bank of Punjab, which saw the most trades as its share price rose 2.6pc, followed by TRG which saw its share price increase by 4.98pc.

PSX saw a mixed performance, as in the opening thirty minutes  the index fell to 44,710.24 points before rallying up by 567.85 points by 10 am to reach 45,287.30 points. Within the first two hours, the stock market didn’t show any impact of the conclusion of the JIT investigation, as it went up by 668.29 points to reach 45,890.44 points.

Earlier in the day automobile sector saw gains as the share price of Indus Motor Co went up by Rs24.15 to reach Rs1709.90 and Millat Tractor rising by Rs19.33 to Rs1324.0. Most of the major cement stocks also went up with the share price of Lucky Cement increasing by Rs21.69 to reach Rs775.

Shares of oil marketing companies also registered gains as Attock petroleum share price rose by Rs10.55 to Rs620 and Pakistan State Oil’s (PSO) share price went up by Rs13.25 to reach Rs395.0.

Pakistan rupee further depreciated against the dollar by 2.96 percent and was trading at Rs106.42.

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