Daily Times

Shares at the Pakistan Stock Exchange (PSX) continued an upward trend on Tuesday, with the benchmark KSE-100 index making marginal gains of 129.72 points or 0.28 per cent, closing at 46,756.80 points as compared to the previous close of 46,627.08 points. Trading in the stock market started on an optimistic note on Tuesday as investors received good news on reforms taken in the energy sector, in addition to the continuation of the rupee extending gains against the greenback for 19 consecutive sessions. Moreover, the interim government on Saturday reduced the prices of petrol and high-speed diesel (HSD) by Rs8 and Rs11 per litre, respectively, for the next fortnight ending October 15. However, the CPI (Consumer Price Index) press release by the Pakistan Bureau of Statistics on Monday revealed that inflation had soared to 31.4pc. Major activity was reported in stocks such as WorldCall Telecom Limited, Cnergyico PK Limited, Oil and Gas Development Company Limited, United Foods Limited, BankIslami Pakistan Limited, K-Electric Limited and Pakistan Refinery Limited. The top advancers included SME Leasing Limited, Hala Enterprises Limited, Habib Insurance Company Limited and the Bank of Khyber. The top decliners included First Punjab Modaraba, Grays Leasing Limited, First Elite Capital Modaraba and Next Capital Limited.