KSE-100 stages recovery, increases 346 points

The KSE-100 witnessed a bullish session on Tuesday, with the benchmark index climbing well above the 47,000 level, albeit with lower volume day-on-day at the Pakistan Stock Exchange (PSX).

At close on Tuesday, the KSE-100 Index finished 345.66 points or 0.74% higher to end at 47,258.45 points. The market will now open on Friday.

Investors are keenly following developments on the evolving situation in Afghanistan, with Pakistan's foreign policy regarding a new setup in Kabul crucial for economic sentiment in the country.

Meanwhile, on Tuesday, Allied Bank Limited (ABL) announced earnings for 1HCY21 at Rs8.9bn (EPS: Rs 7.75), increasing 5% YoY / 16% QoQ, led by strong NFI growth and reversals in provisioning. Kot Addu Power Company Ltd (KAPCO) in its FY21 financial result posted a profit-after-tax of Rs10.2bn (EPS: Rs 11.62), down by 57% YoY compared to Rs 23.6bn (EPS: Rs 26.83) during FY20.

KSE-100 closes below 47,000 for the first time in nearly 3 months

Volume on the all-share index decreased from 251.80 million on Monday to 246.07 million on Tuesday. However, the value of shares traded during the session jumped to Rs11.47 billion, from Rs10.14 billion on Monday.

TPL Properties remained the volume leader with 30.97 million shares, followed by Ghani Global Holding with 16.97 million shares, and TRG Pak Ltd at 14.07 million shares.

Shares of 461 companies were traded on Tuesday, of which 332 registered an increase, 110 recorded a fall, while 19 remained unchanged.