On Tuesday the stocks had quite a bit of a shocking rally as everyone’s eyes were on the Senate elections which were held on Wednesday.
Although the pragmatists among the investors thought that it would be the right time to pick up the stocks available at attractive valuations.
The traders stated that the most prime companies had announced their financial results for the quarter that ended on December 31st, 2020, investors had been booking profits. But the prospects of the release of funds on account of the circular debt resolution prompted investors to take positions in the energy chain. [O and GMC’s and power sectors].
The KSE-100 index gained 370.84 points, or 0.81 percent, slightly short of the 46,000 level at 45,964.27. Beforehand the index swayed between the high and low of 484 and 58 points.
Procurement was witnessed in Refinery, Textile sectors, and Banks.
The automobile department saw a renewed buying interest with it closing at 2.20 percent. The Engineering department closed up to 3.15 percent fro as the steel stock considerably ascended upwards.
Views differed in departments of Cement where Fauji, Lucky, and Kohat hung in the red zone while Cherat hung in the green zone.
The departments that made a huge contribution in the index were Technology with 65 points, Banks with 109 points, power with 56 points, and O&GMC with 53 points and 20 points.