KARACHI: Pakistan stocks gained 540 points on Tuesday as investors posed confidence on central bank’s decision to leave policy rate unchanged.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,367 points from previous day’s closing of 42,827 in the interbank foreign exchange market.
READ MORE: Pakistan equities fall by 444 points on political noise
Analysts at Arif Habib Limited said that the stock market witnessed a bullish session today.
The benchmark KSE-100 index traded in the green zone throughout the day as investors’ confidence boosted due to policy rate being unchanged, they added.
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) a day earlier decided to keep the policy rate unchanged at 15 per cent.
READ MORE: Weekly Review: monetary policy decision likely to dictate market
Cement sector remained in the limelight. Hefty volumes were witnessed in the main board and 3rd tier stocks.
The Index closed at 43,366.78 points, up by 540.1 points (+1.26 per cent DoD). Sectors contributing to the performance include Fertilizer (+124.8 points), Cement (+121.7 points), E&P’s (72.2 points), Technology (+62.2 points) and Banks (+43.9 points).
READ MORE: Weekly Review: stock market likely to move in positive zone
Volumes increased from 194.7 million shares to 324.4 million shares (+66.7 per cent DoD). Average traded value also increased by 81.1 per cent to reach US$ 44.4 million as against US$ 24.5 million.
Stocks that contributed significantly to the volumes are HASCOL, KEL, WTL, PRL and CNERGY.
READ MORE: Weekly Review: market likely to continue positive sentiments
