KARACHI
The Pakistan Stock Exchange (PSX) snapped the three-day losing streak in another low-volume session on Tuesday, with the benchmark KSE-100 Index gaining 345.66 points (+0.74 percent) to close at 47,258.45 points.
The market opened on a positive note and remained positive throughout the session. The KSE-100 Index moved in a range of 361.8 points, showing an intraday high of 47,274.5 points and an intraday low of 46,912.7 points (last day closing level).
Among other indices, the KSE All Share Index gained 182.8 points (+0.57 percent) to close at 32,235.13 points, while All Share Islamic Index gained 134.89 points (+0.59 percent) to close at 23,082.09 points.
A total of 367 companies traded shares in the stock exchange, out of them shares of 253 closed up, shares of 95 closed down while shares of 19 companies remained unchanged. Of the 92 traded companies in the KSE-100 Index, 71 closed up, 18 closed down, while three remained unchanged.
The overall market volumes decreased by 5.74 million to 246.07 million shares. Total volume traded for the KSE-100 Index was 81.90 million shares. The number of total trades decreased by 10,717 to 92,549; however, the value traded increased by Rs1.33 billion to Rs11.48 billion. Likewise, the market capitalisation increased by Rs48.45 billion.
Among scrips, TPLP realised total volumes of 30.98 million shares, followed by GGL (16.97 million) and TRG (14.07 million). Stocks that contributed significantly to the volumes include TPLP, GGL, TRG, WTL and TELE, which formed 36 percent of total volumes.
In terms of rupee, Colgate Palmolive witnessed a maximum increase of Rs69.99 per share, closing at Rs2769.99. Allawasaya Textiles was runner up, share prices of which increased by Rs31.79, closing at Rs455.71. Wyeth Pak Ltd recorded a maximum decrease of Rs139.96 per share, closing at Rs1726.23 followed by Ismail Industries, the prices of which declined by Rs31.27 per share, closing at Rs392.03.
The sectors propping up the index were power generation & distribution with 96 points, cement with 36 points, oil & gas marketing companies with 32 points, commercial banks with 32 points and technology & communication with 23 points. The most points added to the index were by HUBC which contributed 81 points followed by PSO with 23 points, MCB with 16 points, KAPCO with 15 points and TRG with 13 points.
Sector wise, the index was let down by glass & ceramics with 2 points, paper & board with 2 points, real estate investment trust with 1 points and leasing companies with one point. The most points taken off the index were by BAHL which stripped the index of 6 points followed by KTML with 6 points, FCEPL with 4 points, PKGS with 3 points and HBL with 3 points.
According to market experts, the bourse went up on Tuesday as geopolitical uncertainty surrounding the Afghan situation settled down. Markets calmed after the Taliban spokesperson announced a general amnesty for government officials and assured uninterrupted evacuation of affectees, they said.
Investors also cherished the extension of subsidised power and gas tariffs to the export sector for another year, a closing note by Aba Ali Habib Securities said.
