PSX Gains Over 350 Points After Moody’s Rating Upgrade

The 100-Index of the Pakistan Stock Exchange (PSX) turned bullish trend on Thursday and gained 356.88 points, showing a positive change of 0.46 percent, closing at 78,349.66 points against 77,992.79 points on the last working day. A day earlier, Moody’s Ratings had upgraded the Government of Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3. A total of 599,820,775 shares were traded during the day as compared to 636,024,989  shares the previous day, whereas the price of shares stood at Rs. 20.409 billion against Rs. 16.267 billion on the last trading day. As many as 449 companies transacted their shares in the stock market, 227 of them recorded gains and 166 sustained losses, whereas the share price of 56 companies remained unchanged. The three top trading companies were Symmetry Group Limited with 64,297,326 shares at Rs 8.57 per share, National Bank XD with 42,591,637 shares at Rs. 57.53 per share and Kohinoor Spinning with 41,140,347 shares at Rs. 11.69 per share. Unilever Pakistan Foods Limited witnessed a maximum increase of Rs. 241.02 per share price, closing at Rs. 17,581.02, whereas the runner-up was Colgate Palmolive (Pakistan) Limited with a Rs. 87.97 rise in its per share price to Rs. 1,218.17. Al-Abbas Sugar Mills Limited witnessed a maximum decrease of Rs. 29.22 per share closing at Rs. 565.79 followed by Mari Petroleum Company Limited with Rs. 21.56 decline to close at Rs. 3,368.32.