The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Tuesday, gaining 385.47 points, a positive change of 0.33 percent, closing at 116,775.50 points as compared to 116,390.04 points on the last trading day.
A total of 479,465,114 shares were traded during the day as compared to 484,547,019 shares the previous trading day, whereas the price of shares stood at Rs30.449 billion against Rs27.430 billion on the last trading day.
As many as 447 companies transacted their shares in the stock market, 219 of them recorded gains and 174 sustained losses, whereas the share price of 54 companies remained unchanged. The three top trading companies were Cnergyico PK with 32,091,019 shares at Rs 8.53 per share, TRG Pak Limited with 21,511,574 shares at Rs 67.90 per share and B O Punjab with 20,785,866 shares at Rs 11.17 per share.
Unilever Pakistan Foods Limited witnessed a maximum increase of Rs 184.62 per share closing at Rs 23,294.62 whereas runner-up was PIA Holding Comapny LimitedB with Rs 142.36 rise in its share price to close at Rs 1,604.76.
Philip Morris (Pakistan) Limited witnessed a maximum decrease of Rs 85.61 per share price, closing at Rs 1,175.87, whereas the runner-up Nestle Pakistan Limited with Rs 58.56 decline in its per share price to Rs 7,114.77.
Separately, some stability has returned to markets after last week’s rollercoaster ride over Trump’s stop-start tariff announcements, but uncertainty remains over speculation of new levies on high-end technology and pharmaceuticals.
“While financial markets have steadied, with many looking as if they are consolidating at current levels, this feels as if it is the calm before the storm,” said David Morrison, senior analyst at financial services firm Trade Nation.
“Markets remain skittish, and investors feel safer sitting on their hands for now, hoping that last week’s worrying dislocations revert back to normal,” he said.
Wall Street opened slightly higher while the dollar, which has been battered in recent days, pared back some losses against the euro.
European indices performed better than US peers in afternoon deals.
Paris made more modest gains, weighed by shares in luxury conglomerate LVMH falling more than eight percent after it reported a decline in sales.
Shares in European and Asian automakers rallied following Trump’s comments on Monday that he was “very flexible” and “looking at something to help some of the car companies” hit by his 25 percent tariff on all imports.
“This serves to double down on the weekend narrative that Trump will reverse some of his tariffs once company execs approach him to highlight the huge negative implications of his action,” said Joshua Mahony, chief market analyst at Scope Markets.