Stock market adds to Monday’s gains

KARACHI: The Stock Market opened on Monday after three holidays and posted a notable gain of nearly 400 points. Tuesday saw the benchmark KSE-100 index building on Monday’s movements with over a 100 points increase in the first half of the trading day.

Opening at 46,627.08 points, the market was seen hovering at 46,727.77 points around noon. Trading volume remained moderate with 37 million shares trading until midday.

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Most of the companies trading in green were from the energy sector, with the exception of OGDC that was in red until afternoon. Telecom companies and FMCGs also remained green on Tuesday morning.

Multiple factors have influenced this bullish trend in the stock market, starting from the release of delimitations by the Election Commission of Pakistan (ECP), and the improvement in Pakistani Rupee parity. E&P companies posting gains can also be attributed to the global decline in international crude prices.