Upward momentum continues at PSX as benchmark index gains 457 points
The Pakistan Stock Exchange (PSX) remained bullish on Thursday, with the benchmark KSE-100 index gaining 457 points, around one per cent, to close at 46,561.
The index opened higher but touched a day's low of 46,085 points before climbing to a high of 46,657 towards the session's close.
"Sentiments in Pakistan equities were boosted as investors cherished the news of a possible tax amnesty scheme (on declaration of off-shore assets)," a note by Topline Research read. "Market believes that a successful amnesty scheme would provide much needed respite to depleting foreign exchange reserves along with an anticipated inflows into the capital market of Pakistan."
In all, 233.4 million shares worth Rs12.7 billion were traded at the exchange, with 175 of the 361 traded symbols advancing, 162 declining and 24 closing unchanged.
The chemical sector continued to dominate trading with 36.9m shares traded today, while commercial banks and cement followed with 29.2m and 27.3m shares traded respectively.
Volumes were led by:
BYCO Petroleum Pak Ltd: 16.6m shares traded [-1.44pc];
Engro Polymer and Chemicals Ltd: 15.4m shares traded [+0.87pc];
Lotte Chemical Pakistan Ltd: 9.0m shares traded [-2.51pc];
Azgard Nine Limited: 7.7m shares traded [+3.01pc];
Pakistan Elektron Ltd: 7.5m shares traded [+4.52pc].