PSX soars as benchmark index gains 776 points
The Pakistan Stock Exchange (PSX) continued its run in the green, with the benchmark KSE-100 Index gaining 776 points, up 1.91 per cent, on Tuesday.
The index opened lower to touch the day's low of 40,535 points before taking the upward trajectory and hitting the day's high of 41,567 points before close.
"Market witnessed dull trading in initial hours as investors initially seemed perturbed by escalated diplomatic tension between US and Pakistan," a note from Elixir Securities read. "However, as the day progressed, active buying from local institutional investors across major sectors changed the mood."
Volumes picked up as around 230 million shares worth Rs10.5 billion were traded in the session. Of the 368 traded scrips, 221 advanced, 125 declined and 22 remained unchanged.
Cement sector dominated trading with 36.8m shares traded while technology and commercial banking followed with 30.3m and 29.7m shares traded.
Volumes were led by:
TRG Pak Ltd: 20.8m shares traded [-3.45pc];
K-Electric Ltd: 18.3m shares traded [+4.51pc];
Fauji Cement: 10.6m shares traded [+5.00pc];
Pak Elektron: 8.8m shares traded [+0.98pc];
5/ Pace (Pak) Ltd: 7.7m shares traded [-5.33pc].