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Home / Markets / PSX gains massive 562pts to reach 41353 level till midday
PSX gains massive 562pts to reach 41353 level till midday

PSX gains massive 562pts to reach 41353 level till midday

KARACHI: The Pakistan Stock Exchange (PSX) remained bullish till midday after adding another 562 points to take the tally to 41353 points level on Tuesday.

The stocks continued its upward rally in early trading and added 264 points to reach 41055 points level.

On Monday, the stocks managed to stage a strong comeback as market participants cherished the announcement of a possible support package by Prime Minister for revival of stock market. The benchmark KSE 100-index rallied by 945 points and closed at 40,791 points.

Top 10 index point contributors were OGDC (up 3.4%), ENGRO (4.7%), LUCK (5%), POL (3.3%), PPL (2.3%), PSO (4.1%), DAWH (5%), SNGP (5%), HBL (1.3%) & MCB (1.8%); adding 428 points, while JDWS (down 3.9%), KTML (1.2%), OLPL (2.1%), GADT (1%), KAPCO (0.7%), CPPL (0.1%), POML (0%), PMPK (0%), PICT (0%) & PAKT (down 0%), withheld 11 points. Sector-wise; E&Ps gained 158 points as Iraq-Kurdistan conflict and fears of new Iran sanctions drove up oil prices. Fresh buying was seen in the cement sector as chatter of a possible meeting among cement producers in upcoming days to keep firm pricing surfaces – the sector gained 146 points. Banks and fertilizer sectors cumulatively gained 252 points.