KARACHI: The Pakistan Stock Exchange (PSX) witnessed a turnaround on Tuesday just a day after the benchmark index plummeted nearly 2 percent as KSE-100 Index rose 0.72 percent as a host of positive triggers boosted investor sentiment.
Market investors received cues from Pakistan and the International Monetary Fund starting negotiations and Pakistan receiving $500 million in assistance from the Asian Infrastructure Investment Bank (AIIB) (IMF).
The KSE-100 Index consequently finished the day at 42,373.59 up 302.25 points or 0.72%.
The market had a jump at the start of trading, and it continued to rise all day. In the last hour, the surge quickened, and the gains increased.
Cement and fertilizer divisions had mixed closings, while the banking, oil, and automobile industries all concluded with gains.
In its report, Arif Habib Limited stated that the PSX experienced a successful session.
On the economic front, rupee remained stable against the US dollar and closed unchanged at Rs223.95.
Sectors painting the benchmark KSE-100 in green included banking (67.67 points), technology and communication (60.39 points) and power generation and distribution (57.47 points).
Volume on the all-share index dropped to 139.2 million from 244.4 million on Monday. The value of shares traded fell to Rs5.1 billion from Rs6.9 billion recorded in the previous session.
WorldCall Telecom was the volume leader with 18.6 million shares, followed by Unity Foods with 10.1 million shares and K-Electric with 7.5 million shares
Shares of 339 companies were traded on Tuesday, of which 188 registered an increase, 123 recorded a fall, and 28 remained unchanged.
