KARACHI: The Pakistan Stock Exchange (PSX) Tuesday 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.