KARACHI: The Pakistan Stock Exchange Wednesday remained bullish till midday and gained 77.03 poitns to take the tally to 40127.20 points level.
Earlier, the stocks started day with bullish trend adding another 68.81 points to reach 40118.98 points level in early trading.
On Tuesday, the bullish trend at Pakistan equity market continued as the KSE 100 index hit intraday all time high of 40,211 points before settling down at 40,050 point at the close of the trading session, registering gains of only 19.65 points. The turnover increased to 240 million shares as compared to 216 million shares traded on Monday. The value of shares traded at the Pakistan stock market soared to Rs 13 billion against Rs 10 billion worth of shares traded the previous day. The market capitalization has also jumped up by Rs 3 billion to Rs 8 trillion in the back drop of bullish market.
Cement, energy and auto sectors remained pivotal. Major activity was witnessed in Dewan Cement whose 18 million shares were traded followed by K-Electric (17 million), Dewan Salman (13 million), Dewan Motors (11 million) and TRG Pak (7 million). Rally in cement sector was mainly due to the expectations of stronger Fiscal Year 2016 (FY16) results. Market pundits expect major correction after the end of financial result season. On Tuesday the shares prices of 186 companies increased while 188 companies suffer decline. Share value of 25 companies remained unchanged.
