Buyers at Pakistan Stock Exchange (PSX) maintained momentum as reports of a billion-dollar UAE investment in the Fauji Group, and with a $1 billion rollover liability settlement boosted investors’ confidence on Tuesday, reported 24NewsHD TV channel.
During the intraday trading, the PSX’s benchmark KSE-100 Index gained 527.97 points or 0.30% to reach 174,424.31 points. However, at the end of the day, the index surged by 576.45 points or 0.33 percent to 174,472.79 points.
Out of 564 active companies, share prices of 282 companies advanced, 158 declined, while 124 remained unchanged.
Analysts said the strong buying interest across major sectors reflects renewed investor confidence.
The analysts said the rally was driven by strong performance in major blue-chip stocks. Banking, energy, and technology sectors led the gains, while trading volumes remained healthy. Investors were optimistic about upcoming economic announcements and corporate earnings.
Experts believe that the stock market’s upward trajectory indicates renewed investor confidence in Pakistan’s economy.
Earlier on Monday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) closed bullish, gaining 1,495.61 points, a positive change of 0.87 percent, to settle at 173,896.34 points.
During the session, the ready market witnessed a trading volume of 858.054 million shares with a traded value of Rs 42.867 billion, against 797.999 million shares valuing Rs 38.062 billion in the previous session. Market capitalization increased to Rs 19.590 trillion from Rs 19.464 trillion a day earlier.
WorldCall Telecom topped the volume chart with 52.850 million shares, followed by Dost Steel Limited with 51.360 million shares and PTCL with 42.555 million shares.
The top gainers included Ismail Industries Limited, which rose by Rs 115.31 to close at Rs 2,100.00, and Unilever Pakistan Foods Limited, increasing by Rs 102.28 to settle at Rs 28,910.50.
On the losing side, PIA Holding Company Limited-B declined by Rs 1,516.90 to close at Rs 16,149.24, while Rafhan Maize Products Company Limited fell by Rs 90.47 to close at Rs 10,169.07.
Reporter: Ahsan Abbasi