Bull-run enters third day at PSX

• KSE-100 index edges up 262.30 points to close at 46,407.26.
• Index oscillates between red and green zones as investors await corporate results.
• Shares of 359 companies were traded during the session.

KARACHI: The bulls held on to their positions for the third consecutive session at the Pakistan Stock Exchange (PSX) on Tuesday and helped keep the benchmark KSE-100 index in the positive zone.

Political stability that emerged after newly elected Prime Minister Shehbaz Sharif took charge coupled appreciation of Pakistani rupee against the US dollar aided the rise of the bourse.

The KSE-100 index oscillated between red and green zones as investors awaited corporate results for the quarter ended March 31, 2022 in certain sectors.

Today, the benchmark KSE-100 index edged up 262.30 points, or 0.57%, to close at 46,407.26 points.

A report from Arif Habib Limited in its post-market commentary noted that another positive session witnessed today due to political stability and appreciation of Pakistan rupee against the US dollar.

Across the board rally was witnessed regardless of foreign selling spree; meanwhile main board activity remained healthy.

Moreover, market even witnessed hefty volumes in the third-tier stocks.

Sectors contributing to the performance included technology (+96.7 points), cement (+55.7 points), banks (+52.2 points), engineering (+24.9 points) and refinery (+20 points).

Shares of 359 companies were traded during the session. At the close of trading, 172 scrips closed in the green, 172 in the red, and 15 remained unchanged.

Overall trading volumes dropped to 493.59 million shares compared with Monday’s tally of 557.67 million. The value of shares traded during the day was Rs13.85 billion.

WorldCall Telecom Limited was the volume leader with 62.03 million shares traded, losing Rs0.06 to close at Rs2.07. It was followed by Telecard Limited with 32.65 million shares traded, gaining Rs0.73 to close at Rs16.96 and Flying Cement with 30.85 million shares traded, losing Rs0.83 to close at Rs8.80.