KARACHI: The Pakistan Stock Exchange continued recovery as it performed remarkably on Tuesday, with the index advancing 529 points in intra-day trading to finish its second successive session in the green.
The KSE-100 index opened on a negative note; however, the decline was short-lived. With clarity on the political front, bullish market sentiment helped the index maintain an upward trajectory. The rally was mostly led by institutional buying in sectors including cement, steel, banks and fertilisers.
At close, the benchmark KSE 100-share Index recorded an increase of 484.16 points or 1.15% to settle at 42,622.74. Overall, shares of 356 companies were traded. At the end of the day, 232 stocks closed higher, 100 declined while 24 remained unchanged.
Trading volumes decreased to 120.3 million shares compared with Monday’s tally of 139.3 million. The value of shares traded during the day was Rs5.2 billion.
Foreign institutional investors were net buyers of Rs407.2 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.
TRG Pak was the volume leader with 11.4 million shares, gaining Rs0.98 to close at Rs27.40. It was followed by Pakistan Elektron with 10 million shares, gaining Rs1.79 to close at Rs37.67 and Lotte Chemical with 6.4 million shares, gaining Rs0.63 to close at Rs10.97.
