A relief in trading session was seen on Tuesday as finally the day closed with positive points on Index. Monday was a terrible day in the stock market but on Tuesday KSE-100 index gained 800 point initially, with an intra-day increase to 48,513 points. After that it started to go down. As the day went on, gains converted in to losses. 800 points fell to 560 points. By the end of the day KSE-100 gained 399 points.
The day closed with KSE-100 point’s rise by 399.24 or 0.84% and closed at 48,071.04.
As per Elixir Securities report a three day loss was recovered to an extent on Tuesday. The gains of the day were wiped clear by profit-taking by mid-day, the report stated.
Then in the last hour or two market again recovered mainly due to Habib Bank, Lucky Cements and United Bank gaining +4.8%, +3.6% and +3.5% respectively.
The political tension would keep on effecting trading sessions. Therefore it is expected that the volatile session would continue to be recorded in index in the next few days.
On Tuesday as well the market continued to be volatile with intra-day high of +841 points while intra-day low was of -572 points. The day closed at 48,071 level gaining 399 points compared to last day.
Major Contributors (positive and negative)
HBL and UBL were major contributors who together contributed +312 points to the index.
TRG, POL and THALL together contributed -45 points to the index
In comparison to Monday’s 219 million shares, trading volumes increased to 317 million shares on Tuesday.
Read more: KSE-100 gained 23.70 points in Index
378 companies traded
160 stocks closed higher
202 stocks declined
16 remained same
Value of shares traded: Rs14.9 billion.
Major volume leaders were Power Cement followed by The Bank of Punjab and Engro Polymer. They closed at Rs0.53, Rs0.57 and Rs37.02 respectively.
As per data preserved by the National Clearing Company of Pakistan Limited, Foreign official stockholders were remaining buyers of Rs292 million during the trading session.