Stocks at PSX extend rally with 573-point gain

1 month ago 34
— Reuters/File— Reuters/File
  • Taking cue from planetary markets, investors opt to presume caller positions.
  • Further uptrend comes connected the backmost of expectations that the circular indebtedness contented volition beryllium resolved soon.
  • Sectors contributing to the show see exploration and production, exertion and communications, cement, etc.

KARACHI: Bulls maintained their grip connected the Pakistan Stock Exchange (PSX) connected Tuesday arsenic the benchmark KSE-100 scale extended the rally with a 573-point surge.

Taking a cue from planetary markets, the investors opted to presume caller positions. Further uptrend came connected the backmost of expectations that the circular indebtedness contented volition beryllium resolved soon, which sparked a buying spree successful the lipid and state exploration sector, which closed successful the green.

Today, astatine the close, the benchmark KSE-100 scale surged by 572.72 points, oregon 1.32%, to adjacent astatine 43,853.49 points.

Benchmark KSE-100 scale  intra-day trading curve. — PSX information  portalBenchmark KSE-100 scale intra-day trading curve. — PSX information portal

Arif Habib Limited successful its post-closing commentary noted that Tuesday was a affirmative time for KSE-100, arsenic “the satellite has drifted towards bully quality of reduced hazard of Omicron, which has helped the planetary commodities and equities to rally crossed the globe.”

The brokerage location reported that benchmark KSE-100 opened connected a affirmative enactment and rallied much than 785 points during intraday arsenic investors participated successful exploration and accumulation stocks amid the expected solution of state circular debt.

Sectors contributing to the show included exploration and accumulation (+115 points), exertion and communications (+114 points), cement (+85 points), refinery (+27 points) and textile composite (+25 points).

Shares of 347 companies were traded during the session. At the adjacent of trading, 247 scrips closed successful the green, 82 successful the red, and 18 remained unchanged.

Overall trading volumes soared to 229.4 cardinal shares compared with Monday’s tally of 176.9 million. The worth of shares traded during the time was Rs8.4 billion.

Telecard Limited was the measurement person with 27 cardinal shares traded, gaining Rs0.79 to adjacent astatine Rs14.70. It was followed by TPL Properties with 15.7 cardinal shares traded, gaining Rs2.58 to adjacent astatine Rs14.76, and Treet Corporation with 14.8 cardinal shares traded, gaining Rs1.82 to adjacent astatine Rs41.77.

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