ISLAMABAD: After reaching a psychological benchmark of 44000 a few days before, the Pakistan Stock Exchange (PSX) witnessed another significant bullish session on Tuesday as the benchmark KSE-100 index roared above the 45,000 level amid positive developments on the economic front.
At close, the benchmark index settled at 45,155.80 points with an increase of 570.67 points or 1.28% compared to the last day trading of 44, 585 points.
The was for the second time in a couple of days, the index surpassed the 14-month record as in April 28 2022 the index reached the 44000 mark.
On Tuesday, both the volume and value of shares traded improved significantly compared to the previous session whereas most of the top-tier companies remained in the green zone.
Bullish Trend at PSX
The market took momentum in line with the news about the inflow of received $2 billion from Saudi Arabia. Earlier during the day, Finance Minister Ishaq Dar announced that the State Bank of Pakistan (SBP) has received $2 billion from the kingdom.
During the trading, most of the companies and sectors including automobile assemblers, commercial banks, chemical, cement, engineering, oil and gas exploration companies and OMCs opted for buying and remained in the green zone.
Volume on the all-share index increased to 555.1 million from 440.2 million on Monday, while the value of shares traded enhanced to Rs15.5 billion from Rs12 billion in the previous session.
WorldCall Telecom traded as the top trading company with 35.1 million shares, whereas Pak Refinery with 31.4 million shares followed by Fauji Foods Limited with 23.2 million shares.
In total, 363 companies traded their shares, whereas 253 registered an increase, 92 sustained a loss and 18 traded their shares with no change.
It is worth noting here that on June 30 Pakistani authorities managed to clinch a last-minute staff-level agreement with the IMF on a $3 billion nine-month SBA. The news influenced the market towards a positive trend.
