Karachi: Pakistan Stock Exchange (PSX) saw an upbeat trading session and KSE-100 Index jumped 0.83 percent on back of encouraging market news, share buybacks and financial results. By end of session, KSE-100 Index rose 346.79 points to close at 41,927.64 points. Market saw sharp upward open and strong buying activity helped maintain trend till end of session.

Index-heavy automobile, cement, fertiliser, banking and chemical sectors closed in green. Oil and gas space ended day in red.

Sectors painting benchmark KSE-100 index in green included banking (207.16 points), cement (130.92 points) and fertiliser (49.51 points). Volume on all-share index fell to 220 million from 268.1 million on Friday while value of shares traded increased to Rs 6.25 billion from Rs 5.78 billion recorded in previous session. Fauji Foods was volume leader with 22.6 million shares followed by Silk Bank with 15.6 million shares and Maple Leaf Cement with 8.7 million shares. Shares of 357 companies were traded of which 179 registered an increase, 152 recorded fall and 26 remained unchanged.

“Indices accumulated gains all day long, while volumes declined from last close,” stock analysts said.

Report from Arif Habib Limited cited that positive session was observed at PSX. Lucky Cement, igniting investor confidence to push up its price to upper circuit and keeping entire cement sector in limelight.

Published in The Daily National Courier, May, 03 2023

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