After the approval of the Finance Bill in parliament, the Pakistan Stock Exchange staged a rebound on Tuesday as the KSE-100 index rose 135 points.
Investor spirit turned positive post-approval of the federal budget and they assumed fresh positions. Market participants remained optimistic about the new fiscal year beginning July 1.
Index heavyweight automobile, cement, bank and refinery sectors generated substantial buying activity.
On the flip side, an overnight dip in global oil prices battered the exploration and production sector, which closed entirely in the red.
Earlier, the trading session kicked off with a spike and the market crossed the 47,500-point mark for a brief period. Cherry-picking was witnessed at the bourse for most part of the day.
A selling spree emerged towards the end, which partially erased the gains. Nevertheless, the index managed to end the day on a positive note.
At close, the benchmark KSE-100 index recorded an increase of 135.42 points, or 0.29%, to settle at 47,137.77.y enjoy better technology at affordable prices.
