The Pakistan Stock Exchange witnessed selective buying by investors during trading on Tuesday; however, profit-taking at the end of the day limited the initial bullishness. Nevertheless, the benchmark KSE-100 index closed with a gain for the second consecutive session.
At the end of the trading session, the KSE-100 index rose 268.58 points, or 0.16 percent to 171,153.16 points. The index saw a high of 171,732.62 points during the session, while the low was 170,902.75 points.
The initial buying trend in the market remained strong, but later investors preferred to take profit in some stocks. Due to this, the index could not maintain its high level of the day.
The market trend was also affected by the fall in global oil prices and signs of a possible easing in US-Iran tensions. Low oil prices are considered important for Pakistan in terms of import costs and external account pressure, while the possibility of easing tensions in the region eased investor concerns to some extent.
LUCK, ATRL, FFC, MARI and EFERT were among the prominent stocks supporting the index during the trading session. These five companies collectively added about 254 points to the KSE-100 index.
On the other hand, the trading volume in the market increased compared to the previous session. About 692.88 million shares were traded on the All Share Index, while the total value was 20.10 billion rupees. In the previous session, the volume of shares was 576.26 million, while the value was Rs 22.41 billion.
The overall market situation was also relatively positive. Shares of 494 companies were traded, of which 238 increased and 213 decreased, while shares of 43 companies remained stable.
Analytically, the future direction of the market will depend on global oil prices, the geopolitical situation in the region, US-Iran relations and Pakistan’s economic indicators. Along with these factors, investors are also giving importance to the financial results of companies and the progress related to local economic policies.
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