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Pakistan's Karachi Stock Exchange (KSE) recorded bullish trading activities on Tuesday but overall investors' participation remained on the lower side despite of a stay order of Lahore High Court (LHC) to stop the National Accountability Bureau (NAB) from investigating the owner of a top Pakistani bank.
The benchmark KSE 100-Index surged by 1.27 percent or 417.93 points to 33,202.87 points on Tuesday when compared with 32,784.94 points reported on Monday.
The KSE All Share Index gained 1.21 percent or 278.35 points to 23,222.55 points, the KSE 30-Index increased by 1.5 percent or 293. 74 points to 19,923.40 points, whereas the KMI 30-Index jumped by 1.56 percent or 861.72 points to 56,062.96 points.
During Tuesday's trading session, the key index moved in a range of 454.10 points and crossed the psychological level of 33, 000 points before hitting an intraday high of 33,239.04 points as against an intraday low of 32,784.94 points.
Earlier in the day, the Lahore High Court stopped the NAB from a corruption inquiry against Chairman of MCB Bank Mian Muhammad Mansha which swung the pendulum of trading towards bulls.
Moreover, news related to increase in number of telecom subscribers also helped investors to take positions in stocks like Pakistan Telecommunication Limited (PTCL), Warid Telecom (WTL), and Telecard Limited (TELE) which gained by 1.28-1.80 percent.
Market volumes depleted by 10.72 percent or 17.839 million shares to 148.527 million shares on Tuesday when compared with 166. 367 million shares posted on Monday.
Market capitalization improved by 1.2 percent or 84.394 billion rupees (811.487 million U.S. dollars) to 7.107 trillion rupees (68. 339 billion dollars) while trade value swelled by 7.61 percent or 603.346 million rupees (5.801 million dollars) to 8.534 billion rupees (82.058 million dollars).
Among 392 active scrips on Tuesday, prices of 234 issues advanced, 138 declined, whereas values of 20 other companies stayed unchanged.
TRG Pakistan Limited, Pak Elektron XD, and Byco Petroleum were the top traded companies with turnovers of 12.768 million shares, 8.998 million shares, and 8.094 million shares, respectively.
Pak Tobacco was the top price gainer with increment of 25 rupees (24.03 cents) to 975 rupees (9.37 dollars) while on the other hand Indus Dyeing led the major price shedders with decrement of 60.43 rupees (58.10 dollars) to 1,148.24 rupees (11. 04 dollars).
