KSE-100 index gains 573 points on Omicron risk ease

KSE-100 index gains 573 points on Omicron risk ease

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 573 points on Tuesday as risk of Omicron reduced globally.

The index closed at 43,853 points as against previous day’s close of 43,281 points.

Analysts at Arif Habib Limited said that a positive day for the KSE-100 index was observed, as the world has drifted towards good news of reduced risk of OMICRON, which has helped the international commodities and equities to rally across the globe.

KSE-100 opened on positive news and rallied more than 785 points intraday as investors participated in E&P stocks amid the expected resolution of gas circular debt.

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Sectors contributing to the performance include E&P (+115 points), Technology & Communications (+114 points), Cement (+85 points), Refinery (+27 points) and Textile Composite (+25 points).

Volumes increased from 176.9 million shares to 229.4 million shares (+29.7 per cent DoD). Traded value also increased by 37.7 per cent to reach US$ 47.4 million as against US$ 34.4 million.

Stocks that contributed significantly to the volumes include TELE, TPLP, TREET, HASCOL and UNITY.

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