Roundup: Chinese vaccine arrival lifts Pakistani stocks

ISLAMABAD -- The Pakistan Stock Exchange (PSX) secured handsome gains on Tuesday as investors cheered the arrival of the Sinopharm COVID-19 vaccines from China, lifting the main index over 330 points, said PSX experts.

The China-donated vaccines reached Pakistan on Monday, and the Pakistani officials said that the vaccination process will begin in the next few days.

The expectations that the vaccination drive will reduce the number of coronavirus cases in the country and help resume socio-economic activities made investors to buy fresh positions, according to PSX experts.

Moreover, encouraging exports data and lower inflation rate for the month of January also boosted interest at the bourse.

The PSX's benchmark KSE 100-Index increased by 0.72 percent or 331.89 points to close at 46,580.34 points on Tuesday when compared with 46,248.45 points reported on Monday.

The KSE All-Share Index gained 0.52 percent or 166.89 points to close at 32,167.97 points, the KSE 30-Index increased by 0.99 percent or 190.43 points to end at 19,398.57 points, the KMI 30-Index jacked up by 0.90 percent or 666.67 points to conclude at 74,905.07 points, whereas the Islamic All-Share Index moved up by 0.73 percent or 165.80 points to finish the trading session at 22,808.65 points.

The trading session on Tuesday witnessed bullish trends which made the main index to travel in a range of 394.27 points. During the course of the trading day, the key index touched an intraday peak of 46,642.72 points as against an intraday low of 46,248.45 points.

Market volumes were recorded at 467.990 million shares on Tuesday. The turnover was 32.41 percent or 224.407 million shares lower when compared with 692.397 million shares traded hands on Monday.

The market value decreased by 23.74 percent or 7.240 billion rupees to close at 23.261 billion rupees on Tuesday as against Monday's closing figure of 30.501 billion rupees.

Among 386 active scrips on Tuesday, the prices of 186 issues closed in the green ink, 181 ended down into the bearish lap, whereas values of 19 other listed companies remained unchanged for the day.

Hascol Petroleum Limited, K-Electric Limited, and Pakistan International Bulk Terminal Limited were the top traded companies with turnovers of 43.965 million shares, 34.217 million shares, and 22.577 million shares, respectively.

Rafhan Maize Products Limited emerged as the top performer of the day with an increment of 90.50 rupees per share to close at 10,185.00 rupees while on the other hand, Sapphire Textile Mills Limited led the worst performers with a decrement of 81.89 rupees per share to finish the trading session at 1,010.10 rupees. (1 U.S. dollar = 160.25 rupees)