KARACHI: Pakistan stocks gained 302 on Tuesday due to positive sentiments prevailed and inflows received from Asian Infrastructure Investment Bank (AIIB).
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 42373 points from previous day’s closing of 42,071 points, showing a gain of 302 points.
Analysts at Arif Habib Limited said that a positive session was witnessed at the PSX during the day.
The Index was driven by the bulls throughout the day which shows signs of recovery after yesterday’s sharp decline.
Investors’ sentiments improved as Govt of Pakistan received $ 500 million from the Asian Infrastructure Investment Bank (AIIB).
Investor participation remained active throughout the day, with 3rd tier stocks witnessing the most activity today as well.
Sectors contributing to the performance include Commercial Banks (+67.7 points), Technology & Communication (+60.7 points), Power Generation & Distribution (+57.5 points), E&P’s (+34.2 points), Cement (+28.5 points).
Volumes decreased from 244.4 million shares to 139.2 million shares (-43.0 per cent DoD). The average traded value also decreased by 27.5 per cent to USD 22.6 million as against USD 31.1 million.
Stocks that contributed significantly to the volumes are WTL, UNITY, KEL, BAFL, DFML, GCIL, & HUBC.
Market participants expect continued volatility in coming sessions as global economic conditions, liquidity flows, and domestic policy developments shape investor sentiment and guide future trading activity on the PSX.