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The Pakistan Stock Exchange experienced a fresh resurgence in the first trading session of the month of March, with the benchmark KSE-100 index closing in the green with a gain of 458 points, or 0.94 per cent, by the close of trading to close within touching distance of the 49,000 points barrier.
95.8 million shares of indexed companies changed hands during the day, with a total worth of nearly Rs.10.8 billion.
Overall, 235m shares were traded on the PSX, with a total worth of nearly Rs14.3bn. Stocks of 383 companies were traded, of which 284 gained in value, 89 declined and 10 remained unchanged.
Volumes were 2.6pc higher than the day earlier, while the value of stocks traded climbed 33%.
Engineering, cement and banking stocks attracted most of the investor interest during the day, with chemicals and technology stocks rounding off the top five.
Volumes were led by:
Aisha Steel Mill: 15.26m shares traded (+4.86pc);
TRG Pak Ltd: 14.19m shares traded (+4.75pc);
K-Electric Ltd.: 9.34m shares traded (+0.84pc);
Lotte Chemical: 9.06m shares traded (+0.37pc); and,
Bank of Punjab: 8.98m shares traded (5.53pc).
"The first day of the month witnessed fresh buying across the board as investors shook off recent regulatory oversight after the Securities and Exchange Commission clarified its intentions and objectives," said analyst Fahad Qasim, who is associated with Topline Securities.
