Share prices consolidate at Pakistan Stock Exchange
Pakistan Stock Exchange (PSX) on Tuesday maintained its bullish momentum for the second consecutive day amid robust investor confidence, reported 24NewsHD TV channel.
During intraday trading, the PSX’s benchmark KSE-100 index gained 1880.64 points to climb to 186,938.47 points, marking a positive change of 1.04 percent.
Out of 564 active companies in the ready market, 329 advanced, 97 declined, and 97 remained unchanged.
Buying was seen in the automobile, cement, chemical, banking, fertiliser, pharma, tech, and OMC sectors.
The stock market did not react negative to the news that US President Donald Trump had agreed on a trade deal with India that slashed US tariffs on Indian goods to 18% - 1% lower than Pakistan’s 19% - from previously 50% in exchange for New Delhi lowering trade barriers, stopping its purchases of Russian oil and buying oil instead from the US and potentially Venezuela.
Earlier on Monday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed bullish trend, gaining 883.35 points, a positive change of 0.48 percent, to close at 185,057.83 points.
First National Equities topped the volume chart with 191.182 million shares, followed by Hascol Petroleum with 51.506 million shares and K-Electric with 38.314 million shares.
The top gainers included Sazgar Engineering Works Limited, which rose by Rs 196.45 to close at Rs 2,342.93, and Blessed Textile Limited, which gained Rs 55.77 to settle at Rs 613.43.
On the losing side, Unilever Pakistan Foods Limited declined by Rs 689.36 to close at Rs 27,029.64, while PIA Holding Company Limited fell by Rs 228.83 to close at Rs 19,788.00.
Reporter: Kawish Memon