KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) recovered 442 points on Tuesday after yesterday’s significant decline.
The index closed at 39,603 points as against 39,161 points showing an increase of 442 points.
Analysts at Arif Habib Limited said that KSE-100 index rebounded today after significant decline of 1355 yesterday.
The index oscillated between -271 points and +497 points with closing near day’s high. Sectors that contributed to the index upsurge include Cement, Chemical, O&GMCs, Banks and E&P.
Buying activity in large cap banks boosted confidence amongst investors.
Trading activity in LUCK and UBL (MSCI EM ousted stocks), reflected that bulk of the selling from foreign investors is done.
After a pause of couple of sessions, Chemical again came in lime light today, though volumes were not significant as much as it used to be last month.
Among Fertilizer sector, EFERT and ENGRO performed well today.
Sectors contributing to todays performance include Banks (+188 points), E&P (+132 points), Power (+73 points), Fertilizer (+69 points), Food (+30 points), O&GMCs (-51 points), Cement (-35 points) and Engineering (-23 points).
Volumes increased from 164 million shares to 196 million shares (+19 percent DoD). Average traded value also increased by 70 percent to reach $80.9 million as against $47.5 million.
Stocks that contributed significantly to the volumes include MLCF, KEL, BOP, DGKC and FCCL reflecting 28 percent of total volumes.