Stocks recover 171 points after five-day losses
KARACHI: Pakistan’s equity markets reversed the bearish trend on Tuesday after index went on to close the session in green. Bulls managed to stage a comeback with cement sector in limelight after Prime Minister Khan constituted a committee under the head of Federal Secretary Housing and Works to prepare a feasibility report on the construction of five million housing units.
The index gained 171.93 points (0.41 per cent) after closing five consecutive sessions in red to close at 41,753.89. Overall, investors continued to remain on sidelines amidst dearth of positive triggers in the market.
The volume declined from 159 million shares yesterday to 126m shares, down 21pc. K-Electric led the volume with 23.61m shares traded, after government ensured of fastening the proposed sale of utility company to Shanghai Power. Agritech trailed the list with 12.34m, Maple Leaf Cement 6.58m, Nimir Resins 6.38m and Lotte Chemical 3.55, accounting for 41.6pc of the total turnover.