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KARACHI: The Pakistan Stock Exchange (PSX) continued the bullish trend on Tuesday as the economic indicators improved with the end of political turmoil in the country.
A day earlier, the benchmark KSE-100 index posted the highest-ever single-day gain of 1,700 points to settle above the psychological barrier of 46,000. The positive trajectory continued for the second day as the political situation settles.
The benchmark KSE 100-index witnessed a brief plunge in early trading as it reached its lowest point of 45,896.46 points before it regained control. The bourse eventually closed after gaining 262.30 points (0.57%) percent, closing at 46,407.26 points. The total volume of share were 186.748 million valued at Rs9.28 billion.
The lower bench KSE-30 index gained 110.52 points (0.62%) and closed at 17,814.39 points. The total volume of shares was 141.056 million. The KMI 30 index increased by 503.35 points (0.67%) and closed at 75,377.36 points, while the All Share Index gained 116.48 points (0.37%) and closed at 31,449.52 points. The total volume of share traded were 492.486 million at the stock market.
As many as 369 companies transacted shares in the stock market, 172 of them recorded gain and 172 sustained losses, whereas the share price of 15 companies remained unchanged.
The three top trading companies were WorldCall Telecom with a volume of 62,038,000 shares and price per share of Rs2.07, Telecard Limited with a volume of 32,652,000 and price per share of Rs16.96 and Flying Cement with volume of 30,857,000 and price per share of Rs8.80.
Nestle PakistanXD witnessed a maximum increase of Rs64.04 per share, closing at Rs5,555 whereas the runner-up was Sapphire Fiber, the share prices of which climbed up by Rs61.35 to Rs883.99. Bata (Pak) witnessed maximum decrease of Rs84.39 closing at Rs2,400 followed by Colgate Palm, the share price of which declined by Rs23 to close at Rs2,320.
The stock market reacted positively to the election of the new prime minister. Investors have also pinned hoped whether the government will approach the IMF to continue the financial assistance programme.