ISLAMABAD: The Pakistan Stock Exchange (PSX) turned bullish on Tuesday with the benchmark KSE-100 Index settling with a gain of over 100 points.
At close, the benchmark index settled at 118,332.90, an increase of 111.78 points or 0.09%.
“A wait-and-see approach dominated sentiment, with participants largely staying on the sidelines in the absence of clear market moving triggers,” said Ismail Iqbal Securities.
On Tuesday a total of 690,389,276 shares were traded during the day as compared to 635,535,311 shares the previous trading day, whereas the price of shares stood at Rs 23.828 billion against Rs 18.576 billion on the last working day.
As many as 459 companies transacted their shares in the stock market, 211 of them recorded gains and 210 met losses, whereas the share price of 38 companies remained unchanged.
The three top trading companies were K-Electric Limited with 267,623,259 shares at Rs 5.89 per share, followed by WorldCall Telecom with 31,561,718 shares at Rs 1.30 per share whereas PTCL settled with 20,008,328 shares at Rs 24.28 per share.
PIA Holding Company LimitedB witnessed a maximum increase of Rs 2,206.95 per share closing at Rs 24,276.48 whereas Khyber Textile Mills Limited was the runner-up with Rs 209.67 rise in its share price to close at Rs 2,306.37.
Rafhan Maize Products Company Limited witnessed a maximum decline of Rs 471.19 per share price, closing at Rs 10,284.04, whereas the runner-up Unilever Pakistan Foods Limited with Rs 100.00 decline in its per share price to Rs 23,000.00.
On Monday, the KSE-100 index experienced a significant decline as investors reacted to the delay in the federal budget announcement and growing uncertainty surrounding the IMF’s approval of Pakistan’s circular debt reduction plan.
The benchmark index dropped by 881.55 points, or 0.74%, closing at 118,221 points.
Across Asia, markets edged lower on Tuesday, although US futures posted gains after President Donald Trump postponed his proposed 50% tariffs on European Union imports.
This move helped restore investor confidence, with the new deadline now set for July 9. Meanwhile, the US dollar continued its downward trend, heading for a fifth consecutive monthly loss.
