KARACHI – Pakistan Stock Market for second consecutive session rose for second session on fresh buying from financial institutions and individual investors.
The index in two sessions rose around 600 points.
The KSE-100 Index closed at 43,618.07 points, up 207.14 points (+0.48%), with a traded volume of 6.04 million shares and traded value of Rs 4.81 billion. In USD terms, the traded value on Tuesday was 43.55 million dollars up by 65 percent fro 17.16 million dollars, higher than last trading session.
PSX continued its bullish momentum on Tuesday. Market opened on a positive note and remained positive throughout the day after taking a slight dip in the early hours of the session. The market observed healthy activity as sales of locally assembled cars, light commercial vehicles, vans, and jeeps exhibited a 23% YoY growth to 170,354 units. Moreover, the US House of Representatives has passed a bill to renew the Generalized System of Preferences (GSP) scheme allowing duty free access for goods from 120 countries including Pakistan for the next three years.
Cement sector came into forefront as the cement bag prices in North increased by ~PKR10/bag, a third consecutive increment in March, taking the total hike of PKR30/bag.
On the flip side the trade deficit of the country rose to 6% YoY in the month of Feb by posting a total increment of 8%YoY in 8MFY18. Participants opted to remain active in utilities, industries and materials.