Bulls return to PSX as benchmark index gains 976 points

KARACHI: The Pakistan Stock Exchange (PSX) on Monday witnessed a bullish trend with the benchmark KSE-100 index gaining 976 points to close up 2.18 percent.

A three-session losing streak came to an end as the benchmark KSE-100 index advanced on the back of strong corporate earnings and once again crossed the 45,000-point mark. At close, the benchmark KSE-100 index recorded an increase of 976.01 points, or 2.18%, to settle at 45,682.77 points.

Sectors contributing to the performance included exploration and production (+239 points), banks (+177 points), cement (+99 points), fertiliser (+87 points) and pharmaceutical (+81 points).

Stocks that contributed negatively were Pak Suzuki Motor Company (-9 points), International Industries (-8 points), Adamjee Insurance Company (-6 points), Lotte Chemical (-5 points) and K-Electric (-5 points).

Overall trading volumes soared to 409.1 million shares compared with Friday’s tally of 240.5 million. The value of shares traded during the day was Rs23.97 billion. Shares of 397 companies were traded. At the end of the day, 211 stocks closed higher, 170 declined and 16 remained unchanged.