Pakistan Bourse closes higher over positive sentiments
KARACHI: The Pakistan stocks market ended the day in a positive zone on Tuesday backed by improved investors’ sentiments over the energy sector’s exceptional performance, analysts said.
An analyst at Topline Securities said the trading session kicked-off on a positive note where initial gains were led by Hub Power Company as the stock continued yesterday’s momentum over an exceptional dividend announcement.
“Pakistan equity market closed in a positive zone where TRG Pakistan and Lucky Cement cumulatively added 82 points to the index,” he added.
The Pakistan Stock Exchange KSE-100 shares Index gained 138.73 points, or 0.34 per cent to close at 41,350.43 points. The KSE-30 shares Index gained 67.50 points, or 0.44 per cent, to close at 15,477.51 points.
Ahsan Mehanti at Arif Habib Corp said the stocks traded higher led by scrips across the board as investors weighed surging global crude oil prices, strong rupee recovery and higher payouts in the energy sector.
“Speculations over exit from the Financial Action Task Force (FATF) grey list in October, 17 meeting and upbeat data on trade deficit to reach $2.88 billion for September, down 31 per cent, played a catalyst role in the bullish close,” he added.
As many as 352 scrips were active of which 161 advanced, 165 declined and 26 remained unchanged.
The ready market volumes stood at 593.43 million shares, compared with the turnover of 185.36 million shares in the last trading session.
The companies which reflected the highest gains included Pak Services up Rs56.50 to close at Rs1,080/share, and Sapphire Fiber up Rs56 to close at Rs1,289/share.
The companies which reflected the most losses included Premium Textile down Rs59.99 to close at Rs740/share, and Blessed Textile down Rs34.99 to close at Rs465/share.
The highest volumes were witnessed in WorldCall Telecom with a turnover of 306.03 million shares. The scrip gained 52 paisas to close at Rs1.63/share, followed by Flying Cement with a turnover of 30.37 million shares. It gained Re1 to close at Rs8.19/share. K-Electric remained the third with a turnover of 19.37 million shares. It gained 3 paisas to close at Rs2.94/share.
Also ReadPakistan Stock Exchange adds 83 points over positive sentiments The monthly inflation number came in lower than expected at 23.2 percent,...
The monthly inflation number came in lower than expected at 23.2 percent,...
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