LAHORE
The Pakistan Stock Exchange (PSX) resurrected after initial jolts on Monday morning. Media reports stating evidence compiled by the JIT pose no potential harm to the current political set up boosted investors’ confidence. There on the index rallied and recovered losses across the board.
The benchmark KSE 100 index surged by 1,051.66 points or 2.27pc to 46,273.81 after a drop down by 511.91 points to 44,710.24. Not to forget the index has fallen from the year’s peak of 53,127.24. The KMI 30 index swelled 2,202.07 points supported by the cement sector. The KSE All Share Index gained 613.27 points with 273 advancers and 75 decliners.
The market volumes jumped up from 132.36 million of the previous session to 235.30 million. A total of 120.98 million shares were exchanged in the KSE 100 index scripts. The Bank of Punjab (BOP +4.76pc) attracted most eye balls and 21.78 million shares were traded in the script. TRG Pakistan Limited (TRG +4.98pc) followed with a volume of 16.81 million.
Most sectors improved their market cap. The engineering sector added 4.72pc to its cumulative market cap. Dost Steel Limited (DSL +6.73pc), Aisha Steel Limited (ASL +5.13pc), International Steels Limited (ISL +4.99pc), Mughal Iron and Steels Limited (MUGHAL +4.99pc), Ittefaq Iron Industries Limited (ITTEFAQ +4.98pc) all landed at their upper circuit breaker prices.
The cement sector topped up its market cap with 3.21pc. D. G. Khan Cement Company Limited (DGKC) was up 3.79pc, Maple Leaf Cement Factory Limited (MLCF +3.00pc) and Lucky Cement Limited (LUCK +3.78pc).
Hi-Tech Lubricants Limited (HTL +0.84pc) closed little changed on the day it announced the opening of its first express service center in Lahore.
In a notice sent to the Exchange, Inbox Business Technologies Limited announced that to postpone its book building process for its initial public offering (IPO) which was scheduled to take place on the 11th and 12th July. The current volatile and uncertain investment climate in the country was declared as the reason with fresh dates to be announced later.
