PSX turns around to bullish trend, gains 1344 points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bullish trend as the KSE-100 index gained 1344 points, ARY News reported.

The 100-Index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend on Tuesday, gaining 1,344.95 points, a positive change of 1.20 percent, closing at 113,088.48 points as compared to 111,743.53 points on the last trading day.

A total of 545 million shares were traded during the day as compared to 511.194 million shares the previous trading day, whereas the price of shares stood at Rs20.741 billion against Rs19.635 billion on the last trading day.

Analysts at Topline Securities said that the increase was primarily driven by LUCK, ENGRO, OGDC, EFERT, and PPL, which together contributed 608 points to the overall gain.

They said, “The KSE 100 index experienced a pullback and ended on a positive note. The index reached a high of 113,253 points, dipped to an intraday low of 111,642 points, and closed at 113,088 points, gaining 1,345 points or 1.20%”.

As many as 446 companies transacted their shares in the stock market, 255 of them recorded gains and 139 sustained losses, whereas the share price of 52 companies remained unchanged.

The three top trading companies were B.O. Punjab with 200.84 million shares at Rs13.23 per share, Power Cement with 25.77 million shares at Rs10.71 per share and WorldCall Telecom with 21.84 million shares at Rs1.50 per share.

Rafhan Maize Products Company Limited witnessed a maximum increase of Rs140.28 per share closing at Rs9,529.61 whereas runner-up was Lucky Cement Limited with Rs55.35 rise in its share price to close at Rs1,459.65.

PIA Holding Company LimitedB witnessed a maximum decrease of Rs92.80 per share price, closing at Rs853.54, whereas the runner-up was Sapphire Fibres Limited with Rs59.44 decline in its per share price to Rs1,039.96.