KARACHI: The Pakistan equity market witnessed mixed activity on Tuesday, as the investors’ confidence was boosted later in the day with the news of easing tension between Russia and Ukraine.
An analyst at Pearl Securities said that the news regarding the pulling back of some Russian troops from the Ukraine border coupled with the decline in the international oil prices led the market to close in a green territory.
The Pakistan Stock Exchange KSE-100 shares Index gained 0.19 per cent, or 87.61 points, to close at 45,731.7 points. The KSE-30 shares Index gained 0.07 per cent, or 12.52 points, to close at 17,803.96 points.
As many as 336 scrips were active of which 200 advanced, 118 declined and 18 remained unchanged.
The ready market volumes stood at 274.5 million shares, compared with the turnover of 187.8 million shares in the last trading session.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed higher as investors weighed the surge in the global equities on easing tensions after the withdrawal of Ukraine and Russian forces.
“Reports of the State Bank of Pakistan (SBP) markup downwards for housing finance and strong financial results played a catalyst role in positive close,” he added.
Going forward, the analysts expect the market to take direction ahead of political stability concerns between Russia and Ukraine.
The companies that reflected the highest gains included Bata Pakistan up Rs64.17 to close at Rs2,172.5/share, and Premium Textile up Rs30.78 to close at Rs729.99/share.
The companies which reflected the most losses included Allawasaya Tex down Rs161.3 to close at Rs1,989.4/share, and Gatron Industries down Rs34.5 to close at Rs461.5/share.
The highest volumes were witnessed in WorldCall Telecom with a turnover of 91.89 million shares. The scrip shed 9 paisas to close at Rs1.96/share, followed by K-Electric with a turnover of 22.7 million shares. It gained 11 paisas to closes at Rs3.53/share. Telecard Limited remained the third with a turnover of 10.11 million shares. The scrip gained 54 paisas to finish at Rs16.86/share.
