The Pakistan Stock Exchange closed Tuesday’s session higher, with the benchmark KSE-100 index settling at 164,569.94, up 1,531.48 points or 0.94% from Monday’s close of 163,038.46, according to market data. The finish capped a strong day that had already seen the index pass 164,368 in early trade, a day after the State Bank raised its policy rate to 12%.
The breadth of the rally was narrow: 218 shares rose, 247 fell and 53 were unchanged, showing that a few heavyweights carried the index higher. About Rs 14.19 billion worth of shares changed hands, with the most traded by value being PRL. Close-end mutual funds were the strongest sector, while vanaspati and allied industries lagged.
For investors, the close matters more than the intraday high because it locks in the day’s gain. With the US Federal Reserve decision due on Wednesday, however, the market is likely to stay volatile, and a single strong session does not by itself signal a lasting trend.
Sources: PSX market data, Business Recorder. Written in our own words for information only.