KARACHI: The Pakistan Stock Exchange Wednesday crossed the psychological barrier of 50,000 mark after adding 155 points in early trading and reached 50014 points level.
On Tuesday, the stocks continued its upward journey on second consecutive day as the PSX shares index extended the gain by acquiring 229 points or (0.46%) to close at 49,859.39 points. Banking sector led the gain in the market as the sector gained to close 1 percent higher than its previous day close. UBL led the index by contributing 88 points to the gain while the stock gained 4 percent.
LOTCHEM was the volume leader with more than 50 million shares traded. Profit-taking was witnessed in ISL (down 2.08%), as the steel company lost value to close in the red zone after closing on its upper circuit for last four trading sessions. Overall, volumes increased by 41 percent to 397 million shares, while traded value rose by 31 percent to Rs17.2 billion.
