KARACHI: Bulls returned to Pakistan stocks as benchmark index gained 544 points on Tuesday after witnessing many dry sessions.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,809 points from previous day’s closing of 41,265 points, showing a gain of 544 points.
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Analysts at Arif Habib Limited said that a positive session was witnessed at the PSX during the day.
In anticipation of positive outcomes from the Prime Minister’s visit to China and the international coal prices plummeting, the bulls made a comeback after continuous dry sessions, reaching an intraday high of 568 points and giving investors much needed confidence.
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Main board volumes improved dramatically yet 3rd tier stocks continued to lead the volume board.
Sectors contributing to the performance include Technology & Communication (+131.2 points), Power Generation & Distribution (+41.8 points), Cement (+83.7 points), E&P’s (+64.7 points) and Fertilizer (+42.6 points).
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Volumes increased from 97.5 million shares to 192.1 million shares (+97.1 per cent DoD). The average traded value also increased by 152.6 per cent to USD 28.6 million as against USD 11.32 million.
Stocks that contributed significantly to the volumes are WTL, CNERGY, TRG, PRL and GTECH.
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