KARACHI: Pakistan stocks recovered 175 points on Tuesday after a massive decline of 1,135 points recorded a day earlier.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,055 points from previous day’s closing of 40,880 points, showing a gain of 175 points.
READ MORE: Stocks plunge 1,135 points on adverse budget measures
Analysts at Arif Habib Limited said that positive session was observed at PSX today due to expectations of Pakistan’s exclusion from the grey list of Financial Action Task Force (FATF).
KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, E&P and Cement sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed healthy volumes.
READ MORE: Stocks gain 279 points on budgetary concessions
Sectors contributing to the performance include Banks (+52.6 points), E&P (+43.2 points), OMC’s (+32.1 points), Technology (+28.4 points) and Fertilizer (+15.6 points).
READ MORE: Pakistan stocks gain 183 points on rupee appreciation
Volumes decreased from 163.8 million shares to 120.1 million shares (-26.7 per cent DoD). Average traded value also decreased by 22.7 per cent to reach US$ 16.6 million as against US$ 21.5 million.
Stocks that contributed significantly are UNITY, KEL, HUMNL, PRL and TPLP.
READ MORE: Stocks remain volatile on expected harsh measures