Staff Reporter
Karachi
Bullish sentiment prevailed at the Pakistan Stock Exchange as the winning streak continued for the eighth successive session on Tuesday on back of improved investor sentiment.
After a surge in the initial hour, the KSE-100 index traded in the green for the entire session amid a few dips. Investors took cues from positive cement sales numbers that grew almost 20% on a year-on-year basis in June 2020. As a result, cement sector scrips remained in limelight during the session and closed mostly positive.
Strong investor sentiments were reflected in increased volumes during trading hours. The upbeat trade data also acted as a catalyst in boosting confidence of the participants.
At close, the benchmark KSE-100 index recorded an increase of 170.58 points, or 0.48%, to settle at 35,373.35 points. Exploration and production, oil marketing companies, cement and banking sector remained in the limelight. Banking sector has lately seen improvement of investor sentiment.
Meanwhile, refinery and chemical sector stocks saw profit-booking after Monday’s performance, it added.
The cement sector also witnessed traction on the back of improved dispatches as well as better outlook on construction of hydel power and the China-Pakistan Economic Corridor projects.
Cement sector remained the center of attention as cement dispatches surged by 29.9% in June 2020.
