PSX surges to regain 34,000 points level

KARACHI: The Pakistan Stock Exchange (PSX) rallied on Tuesday for the second consecutive day as it regained the 34,000 points level.

The benchmark KSE 100 index witnessed a healthy gain of 314.69 points (0.93%) as closed at 34.052.61 points. The indices kept rising as trading resumed but slipped in mid-day reaching intra-day lowed of 33,737.92 points.

The bourse rebounded on an upward trend before trading was suspended. The total volume of shares was 89.499 million valued at Rs3.989 billion.

The lower bench KSE 30 index also saw a gain of 160.42 points (1.10%) and closed at 14,777.68 points. The total volume of scripts traded at the bourse were 48.367 million.

The KMI 30 index gained 692.56 points (1.29%) and closed at 55,538.78 points, while the All-Share Index gained 154.84 points and closed at 24,401.25 points.

The most active stocks were TRG Pakistan (TRG 7.49%), Unity Foods Ltd (UNITY 3.53%) and Maple Leaf Cement Ltd (MLCF 2.49%). The firms traded 11.823 million, 11.054 million, and 6.959 million shares respectively.

This was followed by Pak Electron Ltd (PAEL Ltd 4.40%), Pak Refinery (PRLR1 6.54%), Ghani Global (GGL 7.45%), Hascol Petroleum (HASCOL 1.09%) and Balochistan Gas Ltd (1.09%)

The largest contributor to the KSE 100 index was the oil and gas exploration sector which added 70.39 points to the bourse. The vanaspati and allied industries saw the highest change in market capitalization with over 4.20 percent.