Bulls take charge at PSX as KSE-100 gains 1632 points

KARACHI: Bulls took charge at the Pakistan Stock Exchange (PSX) on Tuesday as the KSE-100 index gained 1,632 points, ARY News reported.

The 100-Index of the Pakistan Stock Exchange (PSX) continued with a bullish trend, gaining 1,632.41 points, a positive change of 1.47 percent, closing at 113,010.38 points as compared to 111,377.97 points on the last trading day.

Analysts at Topline Securities attributed this positive trend to the fading selling pressure from local institutions, which allowed the market to sustain its gains. Additionally, better-than-expected corporate earnings bolstered investor confidence, driving fresh buying across key sectors.

They said, “The uptick was largely driven by strong performances from ENGROH, PPL, FFC, OGDC, and MARI, which collectively contributed 851 points to the index”.

A total of 486.93 million shares were traded during the day as compared to 415.16 million shares the previous trading day, whereas the price of shares stood at Rs30.381 billion against Rs23.947 billion on the last trading day.

As many as 447 companies transacted their shares in the stock market, 264 of them recorded gains and 117 sustained losses, whereas the share price of 66 companies remained unchanged.

The three top trading companies were Bank of Punjab with 59.148 million shares at Rs10.83 per share, WorldCall Telecom with 30.02 million shares at Rs1.56 per share and Citi Pharma Limited with 21.953 million shares at Rs106.56 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs183.14 per share closing at Rs23,415.42 whereas runner-up was Sapphire Textile Mills Limited with Rs34.32 rise in its share price to close at Rs1,200.

Read More: CJP briefs visiting IMF delegation over judicial system reforms

Rafhan Maize Products Company Limited witnessed a maximum decrease of Rs124.95 per share price, closing at Rs9,365.05, whereas the runner-up was Philip Morris (Pakistan) Limited with Rs20.87 decline in its per share price to Rs661.61.

Meanwhile, Chief Justice of Pakistan Yahya Afridi briefed an IMF delegation on the judicial system reforms in a meeting here.

Chief Justice Yahya Afridi, talking to the media said that the visiting team of the International Monetary Fund (IMF) was told “We have taken the oath of the independence of the judiciary”.

“The delegation was informed, It is not our job to brief you all details”. The IMF team was briefed on the agenda of the National Judicial Policymaking Committee,” CJP said.