KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday witnessed another volatile session, with the benchmark KSE-100 Index gaining 130 points amid mini-budget concerns.
Investors preferred to stay on the sidelines due to lack of clarity about the upcoming mini-budget and the revival of the International Monetary Fund (IMF) loan programme. On the economic front, Pakistan’s average GDP growth remained around 5% during the first five months of the current fiscal year.
The market opened on a positive note to reach an intraday high of 44,117.17, within the first hour of the session. However, the KSE-100 Index fell to an intraday low of 43,906.41. At close, the index finished with an increase of 130.30 points or 0.30% to end at 44,043.74.
Sectors driving the benchmark index upwards included technology and communication (62.23 points), oil and gas exploration (48.48 points) and oil and gas marketing (8.44 points).
Volume increased, clocking in at 143.45 million on the all-share index, up from 114.67 million on Monday. The value of shares improved, albeit marginally to Rs4.98 billion, up from Rs4.42 billion.
Unity Foods Limited was the volume leader with 18.87 million shares, followed by TRG Pakistan Limited with 12.41 million shares, and Hum Network with 11.75 million shares.
Shares of 356 companies were traded on Tuesday, of which 163 registered an increase, 168 recorded a fall, and 25 remained unchanged.
