KARACHI: The Pakistan Stock Exchange (PSX) emerged green on Wednesday with investors brushing aside negative sentiments and accumulating blue chips at discount. Bulls made a comeback and ceased the opportunity as a number of blue-chip scripts were hovering around low levels not seen in years.
The KSE 100 index rallied 1,040.70 points to mark an intraday high of 37,704.08 before settling 983.96 points up at 37,647.34. The KMI 30 index jumped 3.15 per cent while the KSE All Share Index crawled higher by 1.92 per cent. The session ended with 286 advancers and 49 decliners.
On the economic front, words of the finance minister came as a comfort to investors who had been worried about the worsening macroeconomic indicators, depreciating rupee, rising interest rates and continuous political noise.
The market volumes swelled up to 194.17 million with 52 per cent executed trades in KSE 100 index scripts. TRG Pakistan Limited (TRG +4.98 per cent) led the volume chart with 22.11 million shares exchanging hands, Lotte Chemical Pakistan Limited (LOTCHEM +7.40 per cent) followed with a volume of 10.55 million, while The Bank of Punjab (BOP +5.59 per cent) was next with 8.73 million shares exchanging hands.
Refinery sector was the top gainer of the day with 8.84 per cent increase in its market capitalization. Cement bulls made a long-awaited comeback and the sector added 5.03 per cent to its market capitalization. Maple Leaf Cement Factory Limited (MLCF +4.99 per cent), Cherat Cement Company Limited (CHCC +5.00 per cent) and D G Khan Cement Company Limited (DGKC +5.00 per cent) were all capped.
