KARACHI: The Pakistan Stock Exchange Tuesday closed bullish as the benchmark KSE 100-share index recorded an increase of 434.29 points or 1.00% to settle at 43,702.58.
Overall, trading volumes increased to 166.5 million shares compared with Monday’s tally of 118 million. The value of shares traded during the day was Rs10.3 billion.
Shares of 342 companies were traded. At the end of the day, 194 stocks closed higher, 123 declined while 25 remained unchanged.
The Bank of Punjab was the volume leader with 20.3 million shares, gaining Rs0.22 to close at Rs12.29. It was followed by Pak Elektron with 14.3 million shares, gaining Rs0.61 to close at Rs38.96 and Sui Southern Gas Company with 13.6 million shares, gaining Rs1.54 to close at Rs38.21.
Yesterday, the PSX witnessed positive trajectory on the first day of the week, as attractive valuation of large cap stocks tempted investors to make fresh entry in market. Ease off in global politics and trade wars further bolstered investors’ confidence. As a result, market swelled up by 0.8 percent or 355 points, closing at 43,268 points.
Investors cheered development on Sui companies (SNGP and SSGC) post publication of the official announcement by Ogra notifying market based return formula that led both stocks to close at upper caps with traded volumes of 6m and 8m, respectively.
Large cap scrips, HBL, ENGRO, UBL, PPL, MCB, OGDC and PSO remained top index contributors in session. While, BOP, PAEL, SSGC, SNGP, and PACE remained volume leaders, with cumulative trading volume of 40m shares. Meanwhile, Dawood Lawrencepur (DLL) notified exchange regarding its boards’ approval to invest Rs70m in proposed right issuance of Reon Energy Limited (DLL’s wholly owned subsidiary).
