KARACHI: The Pakistan Stock Exchange Tuesday continued its upward journey as it added another 351 points to reach record level of 51,287 points level in early trading.
On Monday, the stock exchange hit all-time high as the benchmark shares index surged to 1084.78 points or (2.18 percent) and closed at the all-time high of 50,936 points. The major index movers were HBL (gain 5 percent) UBL (5 percent), MCB (5 percent), OGDC (4.25 percent) and LUCK (2.43 percent) as they cumulatively contributed 552 points to the index gain.
Overall the stocks rally was witnessed in the banking sector where big banks boosted the index to close in green. HBL, UBL and MCB closed on their respective upper circuits as they cumulatively contributed 409 points to the index. Market participation improved as volumes rose 6 percent d/d to 326mn.sh, while traded value shot up 17 percent to Rs20.8 billion ($198 million). Scrips of 411 companies traded in the session, of which 262 closed in green, 129 in red while 20 remained unchanged.
