The index closed in the black, ending its six-day losing streak primarily triggered by positives on the political front as Pakistan Awami Tehreek (PAT) called off its 70-day long sit-in in Islamabad.
At close, the Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.83% or 246.12 points to end at 29,940.39.
“KSE-100 index, pushed by oil stocks, tested 30,000 early while gains in MCB Bank (MCB PA +1.5%) and Engro Corporation (ENGRO PA +2.7%) helped counter profit-taking.
“Maple Leaf Cement (MLCF PA -0.7%) announced lower than estimated first-quarterly earnings and led volumes and ended the day lower.
Trade volumes rose to 172 million shares compared to Monday’s tally of 143 million.
Shares of 391 companies were traded on Wednesday. Of these, 140 companies declined, 231 closed higher while 20 remained unchanged. The value of shares traded during the day was Rs8.1 billion.