KARACHI: Pakistan Stock Exchange (PSX) ended the losing streak on Tuesday and surged by over 352 points after increased buying in later day trading.
The benchmark KSE-100 index gained 211.46 points in early trading before it quickly nosedived. The bourse eventually surged in later day and gained 352.93 points (0.81%) to close at 43,719.82 points. The total volume of share was 48.986 million valued at Rs2.847 billion .
Of the 96 traded companies in the KSE100 Index, 61 closed up 27 closed down, while 8 remained unchanged. Sectors propping up the index were Cement with 76 points, Power Generation & Distribution with 68 points, Technology & Communication with 55 points, Commercial Banks with 39 points and Oil & Gas Marketing Companies with 26 points.
The lower bench KSE-30 index gained by 101.59 points (0.60%) and closed at 16,922.38 points. The total volume of shares was 38.149 million. The KMI 30 index closed at 70,632.26 points after increasing by 631.14 points (0.90%), while the All Share Index gained 166.64 (0.56%) and closed at 29,939.70 points. The total volume of share traded were 188.457 million at the stock market.
The highest number of shares traded belonged to Telecard Ltd (TELE 9.13%) which traded 19.565 million shares. This was followed by TPL Properties Ltd (TPLP 4.70%), Treet Corportation Ltd (TREET 3.37%) and WorldCall Telecom Ltd (WTL 0.60%). The number of scrips traded were 15.289 million, 13.734 million, and 13.523 million, respectively.
The drop in oil prices in the international market has somewhat managed to restore investor confidence as strong buying activity was observed during the last trading hours. The market remains catious over the no-trust motion filed agains the prime minister.
