The Pakistan Stock Exchange (PSX) on Tuesday maintained its upward momentum as investors reacted positively to the State Bank of Pakistan’s (SBP) decision to keep the policy rate unchanged, 24NewsHD TV reported.
At the end of the day, the KSE-100 index gained 796.44 points to reach 156,180.94 points, marking a positive change of 0.51 percent.
As many as 483 companies transacted their shares in the stock market, 280 of them recorded gains and 178 sustained losses, whereas the share prices of 25 companies remained unchanged
A day earlier, the Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 11 percent.
The committee noted that inflation remained relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace.
However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods, it said.
Earlier on Monday, the Pakistan Stock Exchange (PSX) witnessed bullish trend, gaining 944.82 points, a positive change of 0.61 percent, closing at 155,384.51 points.
A total of 857,609,724 shares were traded during the day as compared to 987,589,372 shares the previous day, whereas the total value of shares traded was recorded at Rs32.724 billion against Rs39.911 billion a day earlier.
As many as 482 companies transacted their shares in the stock market; 243 recorded gains and 205 sustained losses, whereas the share prices of 34 remained unchanged.
The three top trading companies were Pace (Pak) Limited with 77,815,694 shares at Rs8.47 per share, Bank of Punjab XD with 58,227,128 shares at Rs18.57 per share, and Pak Int. Bulk with 53,409,117 shares at Rs12.41 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs471.33 per share, closing at Rs32,472.33, followed by Khyber Textile Mills Limited with a rise of Rs183.85, closing at Rs2,022.35.
Reporter: Kawish Memon