The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 closed just below 52,000 on Tuesday as the buying frenzy intensified during intraday trade.
After opening trade at 51,482 points, the benchmark KSE-100 index went up by 490 points to 598 points after witnessing a 1 percent jump. At 12:10 PM, KSE-100 soared to 52,082 before easing to 52,004 points at 12:30 PM, treading the 52k level for the first time after May 2017, according to Arif Habib Limited.
Gaining 437 points during the session, the benchmark KSE 100 index closed at 51,920, a 6-year high. Today’s closing is still shy of the 52,800 level recorded in May 2017.
The KMI 30 index surged by 789 points closing at 88,224, meanwhile the KSE All share index jumped by 293 points settling at 34,558.
Bulls returned today with a considerable gain today. The benchmark index registered a higher high and higher low formation and closed with strong positive numbers, which indicates a further upside move in an upcoming session, said AHL in a brief note.
Overall, October has turned out to be a phenomenal month for the stock market. The KSE-100 index saw a 12 percent growth in PKR terms (~15% in $ terms), with analyst expectations betting big on more growth to come in the following sessions.
Top Volumes
Sectors painting the benchmark KSE 100 index in green included Cnergyico PK Limited (PSX: CNERGY), Pakistan Refinery Limited (PSX: PRL), Worldcall Telecom Limited (PSX: WTL), and Power Cement Limited PSX: POWER).
SCRIP PRICE HIGH LOW CHANGE VOLUME
CNERGY 3.95 3.97 3.44 0.47 71,274,308
PRL 20.75 20.75 19.14 1.39 51,538,473
WTL 1.28 1.32 1.27 -0.01 22,604,739
POWER 5.6 5.85 4.8 0.77 20,860,500
FFBL 17.81 17.81 16.45 1.2 17,814,500
PAEL 13.54 13.55 12.82 0.35 12,839,726
KEL 3.35 3.36 3.2 0.09 11,383,750
Equity markets around the globe showed mixed trends. Meanwhile, crude oil prices moved north with WTI crude oil price rising by 0.74 percent to $82.92 per barrel while Brent surged by 0.98 percent to $88.31 (4:40 PM PKT).
Source: Pro Pakistani