Stocks end up 370 points in late hours buying

Stocks end up 370 points in late hours buying

KARACHI: Stocks ended up by 370 points on Tuesday owing to late hours buying before the closing.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43.247 points from the previous day’s closing of 42,876 points.

Analysts at Topline Securities said that it was a lacklustre day at PSX today where KSE-100 Index initially opened in a negative territory and remained sideways most of the day ahead of the Monetary Policy Announcement as scheduled in the evening.

However, investors opted for value hunting across the board during the last trading hours.

During the day, market made an intraday high at 43,266 level (up 389 points; +0.91 per cent) and low at 42,715 level (down 161 points; -0.38 per cent) before closing at 43,247 level (up 370 points; +0.86 per cent).

Technology, Cements, E&P and Food sector’s stocks led the show where TRG, MLCF, LUCK, MARI and UNITY cumulatively added 161 points while OGDC, SNGP & ABL were major laggards as they lost 38 points, collectively.

Total volume and value stood at 212 million shares & Rs6.8 billion, respectively. WTL was at top on the volume chart with 21 million shares traded in it, today.

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