Market watch: KSE-100 registers 816-point increase as buying spree continues

KARACHI: Stocks returned to winning ways after a one-day break, as the KSE-100 Index increased 1.91% or 816.40 points to cross the 43,600 level.

Volumes rose significantly on the all-share index and index-heavy, along with retail-favourite, stocks increased on bullish sentiment.

After Tuesday’s session in which profit-taking dominated the charts, investors were keen to pump in more money as stocks across the board witnessed higher volumes and buying orders. The KSE-100 maintained a steady rise throughout the day.

At close on Wednesday, the KSE-100 Index ended with an increase of 816.40 points or 1.91% to finish at 43,630.74.

Market watch: KSE-100’s 13-session positive streak ends

Overall, trading volume increased to 327 million shares, compared with Tuesday’s tally of 225 million.

Shares of 400 companies were traded. At the end of the day, 316 stocks closed higher, 65 declined while 19 remained unchanged. The value of shares traded during the day was Rs15.6 billion.

Aisha Steel Mills was the volume leader with 16.9 million shares, gaining Rs1 to close at Rs20.77. It was followed by TRG Pakistan with 16.7 million shares, gaining Rs1.53 to close at Rs32.31 and Dewan Cement with 15.6 million shares, gaining Rs1.10 to close at Rs23.10.

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