The Pakistan Stock Exchange (PSX) was succeeded in sustaining the bullish trend on Tuesday which it witnessed on New Year’s eve with the share prices surging by nearly 600 points as the trading began but in later sessions the bourse lost steam, reported 24NewsHD TV channel.
The investors who were active in the morning later resorted to profit-taking, dragging the benchmark KSE-100 index down to 64,349.60, minus 233.20.
On Monday, the PSX had recorded second highest single day gain on the back of across-the-board aggressive buying mainly by local investors coupled with institutional support. The index surged by 2,210.74 points or 3.54 percent and crossed 64,000 psychological to close at 64,661.78 points. This was second highest single day gain in term of points in the KSE-100 index.
Trading activities also improved as total daily volumes on ready counter increased to 625.147 million shares as compared to 590.592 million shares traded on last Friday while total daily traded value on the ready counter increased to Rs 18.525 billion against previous session’s Rs 16.844 billion.
The foreign investors however remained net sellers of shares worth $505,737. Total market capitalization increased by Rs281 billion to Rs9.343 trillion. Out of total 380 active scrips, 328 closed in positive and only 37 in negative while the value of 15 stocks remained unchanged.
K-Electric was the volume leader with 76.430 million shares and gained Rs0.18 to close at Rs 5.44 followed by WorldCall Telecom that inched up by Rs 0.16 to close at Rs1.57 with 61.550 million shares. Cnergyico PK closed at Rs5.29, up Rs0.37 with 54.945 million shares.
Unilever Pakistan Foods and Hoechst Pakistan were the top gainers increasing by Rs 300.00 and Rs 88.47 respectively to close at Rs 22,200.00 and Rs 1,288.47 while Blessed Textiles and Bata Pakistan were the top losers declining by Rs 19.99 and Rs 10.08 respectively to close at Rs 320.01 and Rs 1,722.15.
Reporter Baseem Iftikhar