Share market inches upwards; trading above 58,700 points

KARACHI: Pakistan Stock Market (PSX) posted moderate gains on Monday after fluctuating between gains and losses through the day. Tuesday saw the share market begin on a bullish note and post over 500 points gain even before noon.

Wednesday, however, brought notable hike for the benchmark KSE-100 index. Yesterday, around noon, the index breached the psychological barrier of 58,000 points and by 2:30 pm, the share market was trading at an all-time high of 58,405.92 points.

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Thursday continued to build on the upwards movement trend, when after opening at 58,198.76 points, the share market had posted 555.66 points gain before noon, hovering at 58,754.42 points close to 12 p.m.

The trading volume also showed confidence in trading with nearly 149 million shares trading hands before noon.

The market growth was seen from multiple segments, with majority of the top performances coming from the telecom segment.