KARACHI: The Pakistan Stock Exchange closed positive after adding near 1,000 points on Wednesday as investors developed interest and resorted to significant buying in cement, steel and financial stocks exactly a week ahead of general elections in the country.
With the sharp gain, the benchmark index neared the 40,900-point mark. So far, it had been the largest rise in the index in the current month.
Automobile, cement, financial, fertiliser and exploration and production stocks drew investor interest with many of them recording gains during the day. At close, the benchmark KSE 100-share Index recorded an increase of 964.92 points or 2.42% to settle at 40,897.90.
Overall, trading volumes increased to 247.8 million shares compared with Tuesday’s tally of 142 million. The value of shares traded during the day was Rs8.6 billion.
Shares of 378 companies were traded. At the end of the day, 307 stocks closed higher, 52 declined while 19 remained unchanged.
Pakistan International Bulk Terminal (R) was the volume leader with 19.6 million shares, closing unchanged at Rs0.5. It was followed by Engro Polymer with 10.3 million shares, gaining Rs1.4 to close at Rs30.04 and Fauji Cement with 10.02 million shares, gaining Rs0.89 to close at Rs20.93.
