KARACHI: Pakistan stocks on Tuesday witnessed bull-run during the day on hopes of tranche release under International Monetary Fund (IMF) program.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 41,523 points from previous day’s closing of 41,191 points, showing an increase of 332 points.
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Analysts at Arif Habib Limited said that another bull-run was recorded at the PSX during the day.
The benchmark KSE-100 opened in the green and continued to trade with cheerful sentiments throughout the trading session, reaching an intraday high of 573.18 points in expectation of approval for the release of 9th tranche of the IMF’s Extended Fund Facility during the ongoing negotiations.
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Investors’ participation remained adequate in E&P Sector on wake of the resolution of gas circular debt. While, healthy volumes were observed across the board.
Sectors contributing to the performance include Technology & Communication (+166.6 points), E&P’s (+131.9 points), Commercial Banks (+69.0 points), Pharmaceuticals (+15.9 points), and Power Generation & Distribution (+10.9 points).
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Volumes increased from 176.7 million shares to 296.6 million shares (+67.8 per cent DoD). The average traded value also increased by +41.9 per cent to USD 45.3 million as against USD 31.9 million.
Stocks that contributed significantly to the volumes are WTL, PPL, SSGC, OGDC and SNGP.
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