KARACHI: The Pakistan Stock Exchange Tuesday continued its bullish momentum on second consecutive day with strong upward movement in most MSCI-EM stocks. The benchmark 100-share index closed at 52,147 points after rallying by 773.46 points or 1.57 percent.
Banking sector led the gains in the market as the sector gained to close 1.71% higher than its previous day’s close.
Market participation improved with volumes rising 35% d/d to 324m shares, while traded value surged 56% to Rs20b/$187m. Scrips of total 417 companies participated in the session of which 273 concluded in advance, 132 in decline while 12 remained unchanged.
Earlier, the stocks opened keeping previous day’s bullish note and added another 459 points to take the tally to 51833 points level in early trading. The Pakistan Stock Exchange continued its upward journey and hovering near 52,000 mark as the benchmark 100-index gained 570 points to reach 51944 points level till midday.
On Monday, bullish sentiment continued at stock market on first trading day with the benchmark KSE 100-index rallying by 631.48 points and closing at 51,373.51 points. Major positive contribution came from the oil sector, on the back of rising oil prices on global expectations of output cuts.
Scrips of total 394 active companies traded in the session of which 239 closed in advance, 146 in decline while 9 remained unchanged. Activity thinned, but was skewed to blue chips. Volume fell 30% d/d while value was flat at Rs12.6b/$120m. The volume leader for the day was again SILK with nearly 16.7 million shares traded in total.
