The benchmark KSE-100 index of the Pakistan Stock Exchange remained hugely volatile throughout the whole trading session closing in green. The market opened negative but made a good recovery while closing in green.
KSE-100 index gained 399.24 points, or 0.84 pc by the close of Tuesday’s trading session to reach 48071.04. The market was hugely volatile due to panic by the local investors as Pakistan Stocks fell due to looming Nawaz Sharif appearance for JIT probe. Pakistan’s Supreme Court in April ordered a probe into the criminal allegations leveled against the family. Sharif is scheduled to appear on June 15 before an investigative team, which has already questioned his sons, according to Information Minister Marriyum Aurangzeb.
The index tested the day’s high at 48,513.80 points. The day’s low of 47099.99 came towards market close.
Overall, 317 million shares were traded, While in KSE 100 index volumes plunged to over 103 million shares with a total worth of nearly Rs11.02 billion
Top leaders of the market were HBL (+4.77%), JDWS (+4.28%), LUCK (+3.63%), UBL (+3.49%) and BAFL (+3.32%).
CEMENT was the top traded sector with total traded volume of 53,526,150 shares. It was followed by ENGINEERING with a total traded volume of 44,571,600 shares and COMMERCIAL BANKS sector with a total traded volume of 42,402,400.
Shares of 383 companies were traded. At the end of the day, 160 Stocks closed higher, 207 declined while 16 remained unchanged.
Power Cement (R) was the volume leader with 40.64 million shares, losing Rs 0.20 to close at Rs 0.53 It was followed by Bank of Punjab (R) with 22.13 million shares, losing Rs 0.12 to close at Rs 0.57, Engro Polymer with 19.29 million shares, gaining Rs 1.76 to close at Rs 37.02 and Aisha Steel Mills with 17.46 million shares, losing Rs 0.58 to close at Rs 23.45.
The top advancers of the market were:
Top decliners of the market were:
Pakistan Stock Exchange IPO book building has been completed only after offer days were extended to total 5 from initial 2 days. Pakistan Stock Exchange received bids for 160 million shares at 28 rupees, the lower limit in bid range. 20% stake in the company will now be listed on the stock exchange. 40% was previously bought by group led by Chinese stock exchanges.