Stock market recovers 418 points

KARACHI: The stock market gained 418 points on Tuesday as market made recovery of past days losses.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,714 points as against 39,296 points showing a make of 418 points.

Analysts at Topline Securities said that the market opened on a positive note in line with regional and international markets, but lost momentum and traded sideways for most part of the day.

However, in eleventh hour aggressive buying was observed by investors, as index gained to close at 39,714 level (up by 1.05 percent).

Late buying was witnessed in the cement sector, as MLCF and PIOC from the sector gained to close on their respective upper circuits.

Investor participation continue to be limited, as traded volume and value for the day stood at 161 million shares and Rs.6 billion respectively.

HASCOL which was today`s volume leader with 12.8 million shares gained to close on its upper circuit.

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