The Pakistan Stock Exchange (PSX) maintained its positive trend with index soaring above 150,000-point mark on Tuesday, reflecting renewed investor confidence fuelled by strong economic signals and fiscal developments despite a flood warning in Sindh, reported 24NewsHD TV channel.
At the end of trading, the PSX’s benchmark KSE-100 Index gained 1,004.36 points or 0.67% to reach 150,975.48 points.
Of the total 479 companies traded today, share prices of 226 companies went up and of 232 went down while 21 remained unchanged.
Investors sentiment strengthened further after Advisor to the Finance Minister Khurram Schehzad announced early retirement of Rs2,600 billion debt, including Rs1.6 trillion owed to the SBP in just 59 days a historic move boosting fiscal credibility.
Market sentiment also turned sharply positive after Pakistan’s Consumer Price Index (CPI) inflation for August came in at 3pc, down from 4.1pc in July — well below analysts’ expectations. The surprise data revived optimism, spurring buying across several sectors.
Earlier on Monday, the PSX benchmark KSE-100 Index witnessed bullish trend gaining 1,353.34 points, a positive change of 0.91 percent, closing at 149,971.12 points.
A total of 1,183,076,656 shares were traded during the day as compared to 1,342,203,045 shares the previous trading day, whereas the price of shares stood at Rs 48.849 billion against Rs 52.305 billion on the last trading day.
The three top trading companies were B.O. Punjab with 97,697,793 shares at Rs 16.58 per share, K-Electric Limited with 85,903,125 shares at Rs5.43 per share and Pervez Ahmed Co. with 54,520,834 shares at Rs3.04 per share.
PAI Holding Company LimitedB witnessed a maximum increase of Rs 301.00 per share price, closing at Rs 27,300.00, whereas the runner-up was Hoechst Pakistan Limited with Rs216.81 rise in its per share price to Rs4,026.63.
Unilever Pakistan Foods Limited witnessed a maximum decrease of Rs 920.32 per share closing at Rs 32,701.00 followed by Nestle Pakistan Limited with Rs 77.20 decline in its share price to close at Rs 8,439.18.
Reporter: Ahsan Abbasi