Positive momentum continued at the Pakistan Stock Exchange (PSX) for the second consecutive session, as the benchmark KSE-100 Index moved up 300 points, while volume and value of shares traded improved as well.
The benchmark index started off on a positive note, and remained in the green, gaining 379.49 points to record an intra-day high of 45,753.53.
At close, the KSE-100 settled with an increase of 299.82 points or 0.66% to finish at 45,674.50.
“Expectation of International Monetary Fund (IMF) programme resumption in the next couple of days, government's decision to delay the increase in petroleum product prices, and the arrival of CPI number in line with street expectation can be attributed to the rally,” said Topline Securities in its post-market comment.
Meanwhile, Arif Habib Limited (AHL) said activity continued to remain sideways as the market witnessed hefty volumes in 3rd-tier stocks.
On the economic front, CPI Inflation increased by 13.0% on a YoY basis in January 2022 as compared to an increase of 12.3% in the previous month and 5.7% in the same period of the previous year, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday.
Volumes on the all-share index increased to 312.5 million, up from 251.68 million on Monday. Value of shares traded improved to Rs9.49 billion, up from Rs8.56 billion a day ago.
Ghani Global Holding was the volume leader with 25.5 million shares, followed by WorldCall Telecom with 24.88 million shares, and Treet Corporation with 19.53 million shares.
Shares of 366 companies were traded on Tuesday, of which 221 registered an increase, 115 recorded a fall, and 30 remained unchanged.
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