Stocks end up on addition of Pakistani companies in global indices

Stocks end up on addition of Pakistani companies in global indices

KARACHI: Stock market ended up by 167 points on Tuesday after addition of four new Pakistani companies in MSCI’s frontier market.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42,928 points from previous day’s closing of 42,761 points, showing an increase of 167 points.

READ MORE: Stocks end flat amid lackluster trading activity

Analysts at Topline Securities said that Pakistan equities had a positive day. The benchmark KSE-100 index initially opened in a green zone, made an intraday high at 43,076 (+315 points; up 0.74 per cent) before eventually settled at 42,928 for the day.

READ MORE: Weekly Review: political situation to keep investors vigilant

The MSCI Semi Annual Review for it Frontier Market FM100 Index where the global benchmark indices provider added 4 companies (POL, TRG, SYS, LUCK) has resulted in the aforesaid buying momentum which kept Blue-Chip Stocks in the lime light through the day.

READ MORE: Stocks remain negative in ongoing political chaos

During the day, Tech, Fertilizer & Auto sector stocks contributed positively to the index where SYS, ENGRO, INDU, DAWH & PAEL added 152 points, cumulatively.

On the flip side, TRG, PPL and OGDC have witnessed some profit taking as they lost 30 points collectively, today.

READ MORE: Stocks shed 164 points on IMF review delay

Around 194 million shares traded today at the bourse while total value clocked in at Rs6.8 billion. WTL led the volumes chart today with trading of 18.5 million shares in it, today.