Pakistan Stock Exchange (PSX) extended its gains on Tuesday as the benchmark KSE-100 index increased by 514 points or 0.81% to close at 64,454 level.
According to the PSX website, a visible peaks and troughs pattern has been witnessed in the KSE-100 performance. At around 9:46 AM, the market reflected a high trough when the KSE-100 index dropped to the 63,549 level.
In intra-day trading, companies from major industries on the KSE All Share Index reflected a mixed trend.
In the automobile sector, Atlas Honda Limited’s share price increased by 4%, K-Electric share price decreased by 0.11% amid an increase in the timeline in acquisition offer by Shanghai Electric and Merit Packaging’s share price reduced by 0.01% just a day after they announced the agenda of the extraordinary general meeting.
Similarly, National Foods share price in the Food and Personal Care Products sector has risen by 2.81% when the company just yesterday announced that 10.91% of voting shares are controlled by Millville Opportunities Master Fund.
Additionally, Fauji Foods share price increased by 0.8% on the same day, when the board of directors have proposed no cash dividend for FY2023, despite earning profit of Rs 0.61 billion. However, the company’s earnings per share (EPS) improved to Rs 0.26 in 2023 after remaining in negative values from 2019 to 2022 – as revealed in latest financial data.
