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PSX rebounds as benchmark index gains over 800 points

KSE-100 index rose by 806.65 points, or 1.76%

KARACHI: The bulls staged a comeback at the Pakistan Stock Exchange (PSX) on Tuesday, pushing the benchmark index up by over 800 points to close at 46,542.91.

Strong economic cues such as consistent appreciation of the rupee against the US dollar and assurance from the government regarding the International Monetary Fund (IMF) programme and $3 billion Saudi deposits helped extend the rally at the bourse.

The benchmark KSE-100 index remained in the green till the end of the session and reached an intraday high of 46,623.76. At close, the benchmark KSE-100 index rose by 806.65 points, or 1.76%, to settle at 46,542.91 points.

During the session, shares of 351 listed companies were traded. At the end of the session, 239 stocks closed in the green, 89 in the red, and 23 remained unchanged.

Overall trading volumes dropped to 243.2 million shares compared with Monday’s tally of 172.8 million. The value of shares traded during the day was Rs10.4 billion.

Ghani Global Holdings was the volume leader with 16.6 million shares, losing Rs0.42 to close at Rs33.73. It was followed by TPL Properties with 15.2 million shares, gaining Rs3.28 to close at Rs51.95, and Waves Singer Pakistan with 11.01 million shares, gaining Rs1.32 to close at Rs19.62.

 

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