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Markets

KSE-100 extends gains, rises 0.52%

  • Market trades in green all day as investors make fresh buying
Published November 8, 2022

The Pakistan Stock Exchange extended gains on Tuesday as the KSE-100 index rose 0.52% in an upbeat session. The market traded in green all day long as investors made fresh buying.

By the end of the session, the KSE-100 Index was up 218 points or 0.52% to close at 42,265.36.

KSE-100 rises 0.46% owing to expectation of assistance from China, Saudi Arabia

Trading began with a spike and the KSE-100 Index accumulated gains in early hours. The rally lost steam near the end of the day as investors preferred to offload stocks. Still, the market managed to close in the green.

Index-heavy automobile, cement, fertiliser, banking and oil sectors ended the day positively.

A report from Arif Habib Limited stated that another range bound session was witnessed at the PSX on Tuesday.

“The market opened in the positive zone continuing its momentum from the previous close as investors’ participation remained sluggish throughout the trading session,” it said. “Investors continued value hunting across the board although the cement sector remained in the limelight due to international coal prices plummeting.”

A report from Capital Stake stated that stocks staged a rally once again on Tuesday.

“Indices accumulated gains all day long, whereas volumes plunged from last close,” it said. “Analysts attributed the positive trend to news of economic aid from China and Saudi Arabia.”

Rupee remained largely stable as it appreciated Re0.01 or 0.01% against the US dollar in the inter-bank market to close at 221.65.

Sectors lifting the benchmark KSE-100 index higher included, banking (97.90 points), cement (57.86 points) and fertiliser (43.20 points).

Volume on the all-share index declined to 237.4 million from 240.2 million on Monday. The value of shares traded rose to Rs5.8 billion from Rs5.45 billion recorded in the previous session.

Fauji Foods was the volume leader with 31.1 million shares, followed by WorldCall Telecom with 22.9 million shares and Cnergyico PK Limited with 14.3 million shares

Shares of 362 companies were traded on Tuesday, of which 188 registered an increase, 142 recorded a fall, and 32 remained unchanged.

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