ISLAMABAD: The Pakistan Stock Exchange on Tuesday observed a bullish trend as the benchmark KSE-100 Index gained 574.10 points before closing at 114,804.16 points.
On Tuesday a total of 589,463,320 shares were entertained as compared to 521,209,059 shares the previous working day, whereas the price of shares stood at Rs 32.585 billion against Rs 28.287 billion on the last trading day.
According to the PSX website, the stock market closed with a positive change of 0.50 %.
“BFBIO from the pharma sector maintained its upward momentum, hitting its upper circuit, while EngroH weighed down the index, contributing a loss of up to 145 points,” brokerage house Topline Securities said in its post-market report.
Major contributors to the positive movement included UBL, MARI, SYS, ATRL, and PSO, which together added 486 points, it added.
On Tuesday as many as 463 companies transacted their shares in the stock market, out of which, 269 recorded gains and 137 met losses, whereas the share price of 57 companies remained unchanged.
The three top trading companies were Cnergyico PK with 42,527,928 shares at Rs 7.21 per share, followed by Pak Refinery with 38,066,803 shares at Rs 41.50 per share whereas K-Electric Ltd settled with 33,447,471 shares to settle at Rs 5.00 per share.
Hallmark Company Limited was the top gainer with an increase of Rs 84.54 per share price, closing at Rs 950.05, whereas Philip Morris (Pakistan) Limited was the runner-up with a Rs 70.90 rise in its per share price to Rs 789.76.
Nestle Pakistan Limited recorded a decline of Rs 58.04 per share closing at Rs 7,435 followed by Pakistan Engineering Company Limited with a drop of Rs 56.55 to close at Rs 600.
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Meanwhile, Finance Minister Muhammad Aurangzeb has revealed that Pakistan plans to launch Panda bonds by June 2025. The decision aimed to pay off external debts and improve Pakistan’s credit rating.
During an interview with the South China Morning Post, Aurangzeb stressed the importance of Chinese investment in ensuring Pakistan’s economic stability.
“Pakistan is aiming to issue Panda Bonds by June, targeting the collection of $200–250 million from Chinese investors. Discussions are underway with the Asian Infrastructure Investment Bank (AIIB) for guarantees,” he said.
An International Monetary Fund (IMF) delegation is expected to visit Pakistan next month, with the aim of increasing the tax-to-GDP ratio from 10 to 10.3pc.