ISLAMABAD: The Pakistan Stock Exchange (PSX) rebounded sharply on Tuesday, with the benchmark KSE-100 index gaining 1,344.95 points to close at 111,743.53, marking a 1.20 percent increase.
Buying was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, refineries, and automobiles. Index-heavy stocks including HBL, NBP, MARI, OGDC, POL, SHEL, and SNGPL traded in the green.
“With no major triggers in sight, the market is expected to remain range bound over the next few weeks, with potential improvement once the International Monetary Fund (IMF) review is completed in March,” said Intermarket Securities in a note on Tuesday.
“We continue to believe the market remains attractive from a valuation perspective and recommend taking advantage of any dips,” it added.
Overall, 545,005,593 shares were entertained during the day as compared to 511,194,686 shares on the last working day, whereas the price of shares stood at Rs 20.741 billion against Rs 19.635 billion on the previous trading day.
As many as 446 companies transacted their shares in the stock market, 255 of them registered gains, and 139 met losses, whereas the share price of 52 companies remained unchanged.
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The three top trading companies were B.O. Punjab with 200,841,500 shares at Rs 13.23 per share followed by Power Cement with 25,779,974 shares at Rs 10.71 per share whereas WorldCall Telecom settled with 21,844,484 shares at Rs 1.50 per share.
Rafhan Maize Products Company Limited registered a maximum increase of Rs 140.28 per share closing at Rs 9,529.61 whereas Lucky Cement Limited was the runner-up with Rs.55 35 rise in its share price to close at Rs 1,459.65.
PIA Holding Company LimitedB witnessed a maximum decline of Rs 92.80 per share price, closing at Rs 853.54, whereas the runner-up was Sapphire Fibres Limited with a drop of Rs 59.44 in its per share price to Rs 1,039.96.
On Monday, selling pressure continued at the PSX, as its benchmark KSE-100 Index closed negative for the fourth consecutive session, settling at 111,743.53 amid a lack of fresh positive triggers.
