Stocks gain 262 points on political stability

Stocks gain 262 points on political stability

KARACHI: Pakistan stocks gained 262 points on Tuesday owing to political stability and appreciation in rupee against the dollar.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,407 points from previous day’s closing of 46,145 points, up by 262 points.

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Analysts at Arif Habib Limited said that another positive session witnessed today due to political stability and appreciation of Pak Rupee against US Dollar.

Across the board rally was witnessed regardless of foreign selling spree, main board activity remained healthy. Moreover, market even witnessed hefty volumes in the 3rd tier stocks.

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Sectors contributing to the performance include Technology (+96.7 points), Cement (+55.7 points), Banks (+52.2 points), Engineering (+24.9 points) and Refinery (+20.0 points).

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Volumes decreased from 557.7 million shares to 493.6 million shares (-11.5 per cent DoD). Average traded value increased by 3.7 per cent to reach US$ 76.1 million as against US$ 73.4 million.

Stocks that contributed significantly to the volumes are WTL, TELE, FLYING, CNERGY and UNITY.

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