Bulls retain control as PSX ends session on positive note

KARACHI: The Pakistan Stock Exchange (PSX) ended the second day of the business week (Tuesday) on a positive note and managed to recover its early morning losses.

The benchmark KSE 100-index surged by 266.33 points and closed at 41.377.26 points. Indices that oscillated in both directions chose the upward direction closing day in the green.

Losing 14.35 points the benchmark KSE 100 index dropped to its day’s low of 41,096.58. It then managed to recover all losses reaching an intraday high of 41,401.89 gaining 290.96 pts. The index ended higher by 266.33 pts at 41,377.26.

Total market volumes surged from 451.73 million shares in the previous session to 754.21 million shares to the seventh highest volume in a decade, whereas the value of shares traded during the day stood at Rs21.721 billion.

Meanwhile, the KMI 30 index gathered 0.62% to settle at 66,060.53, while the KSE All Share index closed with addition of 161.87 pts at 29,122.86.

As many as 424 companies transacted shares in the Stock Market, out of which 278 recorded gain and 125 sustained losses whereas the share price of 21 companies remained unchanged.

Sectors wiping the KSE 100 index’s losses included the Cement sector (51.14 pts), Power Generation and Distribution sector (46.13 pts), and Technology and Communication sector (44.78 pts).

Unilever Foods recorded a maximum increase of Rs787 per share, closing at Rs11287 whereas Colgate Palm was runner up with an increase of Rs202.49 per share, closing at Rs3452.49.

Pak Tobacco witnessed a maximum decrease of Rs79 per share, closing at Rs1700 whereas prices of Island Textile shares decreased by Rs54.58 per share closing at Rs1014.42.