The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index managed to close higher by 0.28% in a range-bound session on Tuesday.
The KSE-100 started positive, hitting an intra-day high of 46,820.72. However, profit-taking curbed the gains.
At close, the benchmark index settled at 46,756.80, up by 129.72 points or 0.28%.
The equity market closed positive, but remained range-bound amid lack of positive triggers, brokerage house Ismail Iqbal Securities said.
On Monday, the KSE-100 saw positive sentiment and closed higher by nearly 400 points on the back of reduction in petroleum prices by the government and consistent appreciation of the rupee against the dollar.
Topline Securities said despite facing a mix of economic indicators, the index sustained its upward momentum on Tuesday.
Banks, fertiliser, and cements, including ENGRO, EFERT, MCB, BAHL, and LUCK, made a positive contribution by adding 138 points. However, OGDC, SYS, and DAWH collectively lost 61 points, the brokerage house said.
Meanwhile, the Pakistani rupee maintained its upward trajectory against the US dollar, gaining 0.36% in the inter-bank market on Tuesday. As per the State Bank of Pakistan, the local unit settled at 285.72 after an increase of Rs1.04 in the inter-bank market.
This was the rupee’s 19th successive increase against the greenback.
Volumes on the all-share index increased to 213.2 million from 202.6 million on Monday.
The value of shares fell to Rs6.1 billion from Rs7.4 billion in the previous session.
WorldCall Telecom remained the volume leader with 60.7 million shares, followed by Cnergyico PK with 19 million shares and Oil & Gas Dev. with 9.9 million shares.
Shares of 330 companies were traded on Tuesday, of which 144 registered an increase, 156 recorded a fall, and 30 remained unchanged.
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