The stock market on Tuesday saw the KSE-100 index add 443 points to the 796 points it had collected a day earlier. But then as a result of heavy profit selling, the index spiralled downwards to get to as low as 140 points in the red. Gaining back some of the lost, the index later managed to close in by 0.04 per cent.
The CEO of Arif Habib Ltd, Shahid Ali Habib added that the Pakistani stock market had gained 59pc since March last year. It is a joint agreement that the economy is moving towards the positive axis with the rupee gaining stability. Habib further stated that the corporate earnings growth at 17.5pc in 2021 will be the highest in five years.
Traded value also managed to increase by 11pc on Monday. The Pakistan Refinery Ltd was the winner of the day with trading at 64.3m shares. Oil prices maintained the level of the previous day whereas cement sectors saw a downfall. Amongst those that contributed positively to the index were MCB Bank Ltd, Fauji Fertilizer Company, Lucky Cement Meezan Bank Ltd, and a few others.