ISLAMABAD: The Pakistan Stock Exchange (PSX) continued its bullish momentum on Tuesday, buoyed by renewed investor confidence following the ceasefire agreement between Pakistan and India.
The benchmark KSE-100 Index climbed by nearly 1,300 points, closing at 118,575.88—an increase of 1,278.15 points or 1.09 percent.
On Tuesday, a total of 684,294,646 shares were traded as compared to 732,877,141 shares the previous working day, whereas the price of shares stood at Rs 52.586 billion against Rs 30.382 billion on the last trading day.
As many as 462 companies transacted their shares in the stock market, 221 of them recorded gains and 194 met losses, whereas the share price of 47 companies remained unchanged.
The three top trading companies were WorldCall Telecom with 41,734,903 shares at Rs 1.26 per share, followed by Maple Leaf with 41,052,877 shares at Rs 75.92 per share, and Sui South Gas settled with 35,773,773 shares at Rs 32.79 per share.
PIA Holding Company LimitedB witnessed a maximum increase of Rs 850.88 per share, closing at Rs 9,359.63, whereas Lucky Core Industries Limited was the runner-up with a Rs 97.35 rise in its share price to close at Rs 1,557.37.
Rafhan Maize Products Company Limited witnessed a maximum decline of Rs 154.22 per share price, closing at Rs 8,911.00, whereas the runner-up Nestle Pakistan Limited with a drop of Rs 90.58 in its per share price to Rs 7,074.09.
In a significant development, Finance Minister Muhammad Aurangzeb announced in an interview with Reuters on Monday that the federal budget for the upcoming fiscal year beginning in July will be finalised within the next three to four weeks.
He also confirmed that budget discussions with the IMF are scheduled to take place from May 14 to 23.
The stock market saw a remarkable rebound on Monday, fueled by a “convergence of positive developments,” including a ceasefire agreement between India and Pakistan and the International Monetary Fund’s approval of critical funding.
The benchmark KSE-100 Index surged by an unprecedented 10,123 points—the highest single-day gain in its history—closing at 117,297.73.
