KSE-100 reaches four-month high, recorded third consecutive weekly gain

The KSE-100 index, the benchmark index at the Pakistan Stock Exchange (PSX), moved up 3.3% compared to last week, showing an upward trajectory for the third consecutive week and also marking a four-month high.

The KSE-100 index improved by 1,139 points during the week to reach 36,190 points. The last time the KSE-100 was above the 36,000-mark was in March.

A total of 1.74 billion shares were traded worth Rs61 billion and capitalization increased by Rs199 billion to Rs6,841 billion.

Meanwhile, the year’s first Initial Public Offering (IPO) of The Organic Meat Company (TOMC) was subscribed by 1.7 times, indicating a positive response by investors despite the pandemic that has slowed down the economy and pushed GDP into negative territory for the first time since 1952.