Karachi: Pakistan Stock Exchange (PSX) benchmark KSE-100 Index settled with gain of over 600 points, while volume and value of shares traded improved from previous session. Market opened on positive note and continued to make strides throughout session. At close, benchmark index settled with gain of 612.06 points or 1.59 percent at 39,055.65 level.

Experts attributed positivity to policy rate hike announced by central bank, which was largely in line with market expectations.

Across board buying was witnessed as index-heavy sectors including automobile, cement, chemical, commercial banks and oil and gas marketing companies closed in green.  Sectors driving benchmark KSE-100 index upwards included, oil and gas explorations (98.31 points), fertiliser (88.73 points) and cement (81.71 points). Volume on all-share index increased to 179.8 million from 81.3 million on Monday. Value of shares rose up to Rs 6.4 billion from Rs 2.8 billion recorded in previous session. Pak Petroleum Limited was volume leader with 13.16 million shares followed by Maple Leaf with 12.49 million shares and WorldCall Telecom with 11.87 million shares. Shares of 326 companies were traded of which 225 registered an increase, 74 recorded fall and 27 remained unchanged.

Published in The Daily National Courier, January, 25 2023

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