PSX ends 138 points higher amid positive sentiment

KARACHI: Bullish sentiments prevailed at the Pakistan Stock Exchange (PSX) on Tuesday, as the benchmark KSE-100 Index was up 138 points to close above the 47,000 level.

Market opened on a positive note and hit an intra-day high of 47,315 with the cement sector leading the charge after substantial reduction in global coal prices. The index, however, recorded a steady decline soon after, but overall optimism erased most of the losses and breached the index 47,000-point barrier.

At close, the benchmark KSE-100 index recorded an increase of 138.14 points, or 0.29%, to settle at 47,112.92. During the session, shares of 361 listed companies were traded. At the end of the session, 174 stocks closed in the green, 171 in the red, and 16 remained unchanged.

Volume on the all-share index decreased from 430.1 million on Monday to 306.2 million on Tuesday. The value of the shares trade also declined, amounting to Rs13.78 billion from Rs14.78 billion on Monday.

Byco Petroleum was the volume leader with 19.3 million shares, gaining Rs0.03 to close at Rs7.50. It was followed by Telecard Limited with 14.4 million shares, losing Rs0.01 to close at Rs17.11, and First National Equities with 10.8 million shares, gaining Rs0.21 to close at Rs8.80.