Pakistan News

PSX lands in green as benchmark gains 207 points

PSX lands in green as benchmark gains 207 points

The Pakistan Stock Exchange (PSX) on Tuesday landed in the green for the second consecutive session, with the benchmark KSE-100 Index gaining 207 points to close at 43,618.

The benchmark showed mixed activity during the first few minutes of trading and then adopted a positive momentum for the rest of the session. The index hit a day's low of 43,354 points, whereas it reached a day's high of 43,707 points near the close of trading.

Volumes showed a significant increase, as 152.32 million shares worth Rs6.76 billion changed hands compared to 109.7m shares worth Rs4.5b traded on the previous trading day.

An Elixir Securities report noted that gas utilities came in the limelight and closed higher on positive news of the government considering an increase in gas prices by five to seven per cent.

"The cement sector saw a good exchange of hands after another round of reported increase in cement prices in the north [of Pakistan]," the report read.

Overall, the chemical sector dominated trading with 27.93m shares traded, while banking and communication sectors followed with 17.22m and 13.41m shares changing hands.

Azgard Nine: 8.96m shares traded [+5.75pc];

Nimir Resins: 8.29m shares traded [+3.54pc];

Pak Elektron: 8.21m shares traded [+1.66pc];

Lotte Chemical: 7.17m shares traded [+0.89pc];

Faysal Bank: 6.35m shares traded [+0.58pc].

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