ISLAMABAD, June 14 (Xinhua) -- The Pakistan Stock Exchange (PSX) surged to a fresh historic peak on Tuesday as investors anticipated the Pakistani bourse to get upgraded into the MSCI Emerging Markets Index.
The Morgan Stanley Capital International (MSCI) was due to hold its review meeting on June 14 and if it decides to upgrade the premier Pakistani equity market, the PSX will be inducted into the MSCI Emerging Markets Index in June next year.
The Pakistan Stock Exchange's benchmark KSE 100-Index bolstered by 1.45 percent or 537.79 points to 37,517.75 points on Tuesday when compared with 36,979.96 points recorded on Monday.
The KSE All Share Index surged by 1.12 percent or 278.02 points to 25,016.87 points, the KSE 30-Index expanded by 1.97 percent or 413.29 points to 21,385.38 points, the KMI 30-Index elevated by 1.53 percent or 984.28 points to 65,463.66 points, whereas the Islamic All Share Index gained 0.89 percent or 156.49 points to 17,672.09 points.
During Tuesday's trading session, the main index traveled in a healthy range of 614.39 points as it hit an intraday high of 37,594.35 points as against an intraday low of 36,979.96 points.
Banking stocks were in high demand on Tuesday as Habib Bank Limited (HBL) closed at its upper limit while United Bank Limited (UBL) and MCB Bank (MCB) jacked up by 2.8 percent and 3 percent, respectively.
Other heavyweight stocks like Hub Power Company (HUBC), Fauji Fertilizer Company (FFC) and Lucky Cement (LUCK) gained in the range between 2.5 percent and 4 percent, thereby contributing 134 points to the KSE 100-Index's overall gain.
Market volumes improved by 2.97 percent or 4.147 million shares to 143.563 million shares on Tuesday when compared with 139.416 million shares posted on Monday.
Market capitalization increased by 1.12 percent or 83.382 billion rupees (817.473 million U.S. dollars) to 7.502 trillion rupees (73.557 billion dollars) whereas trade value swelled by 27.70 percent or 2.078 billion rupees (20.373 million dollars) to 9.58 billion rupees (93.926 million dollars).
Among 331 active scrips on Tuesday, prices of 202 issues advanced, 109 declined, whereas values of 20 other companies stayed unchanged.
Karachi Electric Limited, Pakistan International Bulk Terminal Limited, and Engro Fertilizer were the top traded companies with turnovers of 27.395 million shares, 10.795 million shares, and 8.843 million shares, respectively.
Rafhan Maize was the top price accumulator with an increment of 405 rupees (3.97 dollars) to 8,670 rupees (85 dollars) while on the flip side Nestle Pakistan XD led the major price losers with a decrement of 100 rupees (98.04 cents) to 7,400 rupees (72.55 dollars).
