KARACHI: The Pakistan Stock Exchange Tuesday continued upward rally and added 45.74 points to reach 31415.25 points level.
On Monday, the Pakistan Stock Exchange’s KSE-100 index rose 0.24% or 75.43 points to end at 31,369.51.
Cement stocks benefited from the positive mood, while the historic low banking spreads meant an unimpressive response in the related shares. Cement shares inched upwards on institutional buying with Fecto Cement (+5%) closing at its upper price limit for the second consecutive session on announcement of better earnings and pay-out on Friday. Lucky Cement (+3.8%) also traded higher to hit its upper limit intra-day on excitement over improved local demand. The rally in Engro Fertilizers came on the back of a news report saying that 60 mmcfd of gas would be permanently reverted to the fertiliser unit. Trade volumes rose to 130 million shares compared with Friday’s tally of 125 million.
Shares of 327 companies were traded. At the end of the day, 124 stocks closed higher, 183 declined while 20 remained unchanged. The value of shares traded during the day was Rs6.2 billion.
