PSX gains 1,113 points after Panama case hearing, Qatari minister visit

KARACHI (NNI): Pakistan Stock Exchange (PSX) 100-index has gained 1,113 points on Tuesday as the market closed on a 35,636 figure.

Experts believe that today’s Panama case hearing followed by the Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani ?Pakistan visit has positively motivated the investors. The value of stocks has piled up to Rs. 192 billion.

The Pakistan Stock Exchange’s benchmark KSE 100-Index skyrocketed by 2.50 percent, or 1,113.15 points, to 45,636.36 points, the highest level in Financial Year 2018, on Tuesday when compared with 44,523.21 points reported on Monday.

During the three-day bullish streak, the main index has accumulated 1,852.81 points after losing 2,490.26 points in the earlier three trading sessions largely due to the political turmoil in the country.

The KSE All-Share Index surged by 2.11 percent or 656.75 points to 31,839.58 points, the KSE 30-Index jacked up by 2.70 percent, or 626.53 points, to 23,843.63 points, the KMI 30-Index jumped by 3.16 percent, or 2,385.89 points, to 77,903.34 points, whereas the Islamic All-Share Index increased by 2.38 percent, or 512.06 points, to 22,060.95 points.

During Tuesday’s trading session, the main index moved in a healthy range of 1,170.18 points as it touched an intraday peak of 45,668.88 points as against an intraday trough of 44,498.70 points.

Market volumes more than doubled with an augmentation of 110.29 percent or 83.03 million shares to 158.32 million shares on Tuesday when compared with a trading of 75.29 million shares posted on Monday.

Market capitalization improved by 2.11 percent or 192.38 billion rupees (1.80 billion U.S. dollars) to 9.33 trillion rupees whereas trade value was bolstered by 115.13 percent or 4.82 billion rupees to finish the trading day at 9.00 billion rupees.

Among 373 active scrips on Tuesday, the prices of 307 issues advanced, 56 depleted, whereas values of 10 other companies stayed unchanged.

TRG Pakistan Limited, Karachi Electric Limited, and Aisha Steel Mills Limited were the top traded companies with turnovers of 11.25 million shares, 8.91 million shares, and 7.10 million shares, respectively.

Philip Morris Pakistan was the top price gainer of the day with an increment of 125.85 rupees to close at 2,645.00 rupees while on the other hand, Bata Pakistan led the major price shedders with a decrement of 73.00 rupees to 3,100.00 rupees. (1 U.S. dollar = 106.85 rupees).

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