KARACHI: Pakistan stocks gained 201 points on Tuesday, trading in positive territory during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 40,448 points, showing an increase of 0.50% from the previous day’s closing of 40,247 points.
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According to analysts at Arif Habib Limited, a positive trading session was recorded at the PSX during the day. The market opened in the green and continued to trade in the same zone, with the index reaching an intraday high of 237.62 points.
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Investors remained hopeful for the release of the extended tranche of the International Monetary Fund’s (IMF) Extended Fund Facility. Investor activity increased marginally, while volumes across the board increased slightly, with 3rd tier companies topping the volume board.
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The sectors that contributed to the performance include Fertilizer, Commercial Banks, Power Generation & Distribution, Textile Composite, and Technology & Communication.
Volumes decreased from 94.8 million shares to 67.5 million shares, a decrease of 28.7% day on day. The average traded value also decreased by 25.30% to USD 8.01 million as against USD 10.7 million.
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Stocks that contributed significantly to the volumes were KEL, WTL, AGHA, HASCOL, and DATM. The positive trading day is a good sign for the country’s economic growth, as the stock market is an indicator of the overall economic health of a country.
