The continued bull-run on the Pakistan Stock Exchange for the last four sessions was somehow dampened on Tuesday, however, the market managed to close in the green.
The market closed 155 points up on to settle at 41609.03 points.
As the index has notched gains of 3,739 points (9.6pc) in the last four trading sessions, it added 155 points on Tuesday to take the tally to 3,894 points in five consecutive sessions.
The market opened in the green on Tuesday and the index gained over 250 points within five minutes of the trade opening. However, the bull run proved short-lived and the index plunged into the red done. Since then the market moved both ways and remained rangebound throughout the day.
The market hit the day’s highest level at 41788 on the back of over 330 points gain while it dipped to the day’s lowest at 41380 points. On Tuesday, some 220,164,430 shares changed hands at the market.
Commenting on the trade, senior analyst and chief executive officer (CEO) of Arif Habib Corp Ahsan Mehnati said stocks closed higher led by selected banking and cement scrips on strong earnings outlook.
He added the investor expectations for early resolve to external account imbalances, stronger financial results in the banking sector and speculation on likely continuance of CPEC projects and receipt of financial assistance from UAE and China played a catalyst role in bullish close.
On Tuesday trading held on the shares of some 386 companies out of which share prices of 142 companies increased while the share prices of 234 companies decreased. The share prices of 10 companies remained unchanged.
Wyeth Pak Ltd was the top gainer in term of per share gain followed by Khyber Tobacco. The share price of Wyeth Pak surged by Rs 39.37 to close at Rs 1360 while the share price of Khyber Tobacco increased by Rs27.85 to close at Rs 584.88.
Bata Pak was the top loser in term of per share loss followed by Pak Tobacco. The share price of Bata Pak decreased by Rs 94.81 to close at Rs 1801.44 while the share price of Pak Tobacco decreased by Rs36.90 to close at Rs 2302.46.
On Monday the market had gained 897.31 points (2.1 per cent) to close at 41,453.76. On Monday, the investors fell over one and other in picking up scrips on anticipation of further rise in stock prices which took the number of shares traded to 461 million, the highest volume since May 24, 2017 just before the country was officially included in the MSCI Emerging Market index.