The bulls continued their reign at the Pakistan Stock Exchange on Tuesday. The KSE100 index closed 596 points in the positive to settle at 41,665.
Trading at the exchange took off to a positive start and remained in the green during the entire session. The index was able to breech 41,500 by midday and further extended gains before the closing bell.
News of the COVID-19 vaccine helped extend gains from the previous session. On Monday it was announced that the NCOC has finalized procurement of the vaccine at the earliest after news that the Chinese vaccine might not be available for months. Development of the Export Development Board also helped sentiments at the bourse as the Prime Minister announced that he will head the board with representation from all export sectors.
Stock markets across the world continued to rise on the hope of successful vaccines from a number of countries. Asian shares posted the best November since 2001 which hinted at a global recovery in financial markets which have been battered by the Coronavirus.
At the closing bell a total of 242 companies were in the green with 91 scrips posting a decline. 29 companies remained unchanged.
Market participation for the KSE100 Index increased to 299M from 184M in the previous session (62.5% on d/d basis). Major contribution to total market volume came from UNITY, TRG and HUMNL accounting for a total of 138M shares out of the total market volume of 489M shares.