Bulls dominate PSX as benchmark index gains 1,096 points
Stocks surged at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index gaining 1,096 points to close at 42,745 points.
The index peaked at 42,770 points near the end of the session. The market's commencement of 41,648 points remained the day's low.
"Market witnessed impressive recovery amid aggressive value buying mainly from local institutional investors," a note by Elixir Securities read.
In all, 140.8 million shares worth Rs7.2 billion were traded at the exchange. Of the 339 traded scrips, 259 advanced, 66 declined and 14 remained unchanged.
The cement sector dominated trading with 27.3m shares traded while the banking and chemical sectors followed with 23.7m and 11.7m shares traded respectively.
Volumes were led by:
Fauji Cement Co Ltd: 13.96m shares traded [+4.47pc];
Pakistan Elektron Ltd: 7.39m shares traded [+4.52pc];
TRG Pakistan Ltd: 6.73m shares traded [+4.74pc];
Faysal Bank Limited: 6.47m shares traded [+0.04pc];
Bank Of Punjab: 6.02m shares traded [+1.75pc].