Pakistan's PSX extends gains as locals pounce on institutional support

Source: Xinhua| 2017-05-23 21:04:01|Editor: xuxin
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ISLAMABAD, May 23 (Xinhua) -- The Pakistan Stock Exchange (PSX) multiplied gains on Tuesday as local investors joined the bullish party which was sparked by institutional support in the top Islamic index companies the other day.

The Pakistan Stock Exchange's benchmark KSE 100-Index jumped by 1.51 percent or 773.46 points to 52,146.97 points on Tuesday when compared with 51,373.51 points posted on Monday. During the two-day bullish run, the main index has accumulated 1,404.94 points.

The KSE All-Share Index increased by 1.22 percent or 431.54 points to 35,863.66 points, the KSE 30-Index elevated by 1.77 percent or 483.24 points to 27,722.37 points, the KMI 30-Index skyrocketed by 1.71 percent or 1,500.74 points to 89,115.95 points, whereas the Islamic All-Share Index gained by 1.39 percent or 345.90 points to 25,149.38 points.

During Tuesday's trading session, the main index moved in a healthy range of 870.38 points as it touched the third highest intraday peak of 52,243.89 points as against an intraday low of 51,373.51 points.

Market volumes expanded by 34.86 percent or 83.73 million shares to 323.92 million shares on Tuesday when compared with a trading of 240.19 million shares reported on Monday.

Market capitalization swelled by 1.22 percent or 123.96 billion rupees (1.17 billion U.S. dollars) to 10.32 trillion rupees whereas trade value improved by 56.08 percent or 7.05 billion rupees to 19.62 billion rupees.

Among 417 active scrips on Tuesday, the prices of 273 issues advanced, 132 shrank, whereas values of 12 other companies stayed unchanged.

Lotte Chemical PTA Limited, TRG Pakistan Limited, and Chakwal Spinning were the top traded companies with turnovers of 40.68 million shares, 12.64 million shares, and 11.49 million shares, respectively.

Wyeth Pakistan Limited was the top price gainer with an increment of 120.90 rupees to close at 2,539.05 rupees while on the flip side Sapphire Fiber XD led the major price shedders with a decrement of 62.50 rupees to finish at 1,187.50 rupees. (1 U.S. dollar = 106.05 rupees)

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