Market watch: KSE-100 climbs 592 points, ends shy of 43,000

KARACHI: Stocks returned to winning ways on Tuesday as the KSE-100 Index surged close to 795 points in intra-day trading before minor profit-taking erased some of the gains.

The index still ended with an increase of 592.19 points or 1.4% to finish at 42,939.68 points.

The index shot up as soon as trading began with investors buying in sectors across the board. The buying spree lent support to the index, as it managed to cross the 43,100 barrier.

However, cautious over the upcoming planned protests by major political parties, investors opted to book gains and await clarity as the weekend nears.

Market watch: Foreigners buy, but KSE-100 plunges 586 points

Overall, trading volume increased to 161 million shares, compared with Monday’s tally of 130 million.

The value of shares traded during the day was Rs7.2 billion.

PIAC (A) was the volume leader with 15.8 million shares, gaining Rs0.25 to close at Rs5.72. It was followed by Faysal Bank with 11.7 million shares, gaining Rs0.48 to close at Rs24.19 and Dewan Cement with 8.5 million shares, gaining Rs1.06 to close at Rs22.32.

This is a developing story and will be updated accordingly

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