KARACHI

Following global markets recovery, the KSE’s benchmark 100-share index Tuesday rose by 119.46 points to close at 34,065.87 points level.

Traded volumes improved by 45% to 190m shares, while traded value increased by 26% to Rs.7.2b/$68m. Analyst Ovais Ahsan said the market moved up following a bounce back in regional markets . Major index movers were Habib Bank (up 1.55%) and Pakistan State Oil (up 1.15%).

The rally in Mari Petroleum (up 4.64%) continued as investors speculated that the government could allow them to price new discoveries at higher prices under Petroleum Policy 2012. The cement sector also rallied buoyed by optimism over the CPEC as a government minister was quoted in the press saying that the western route of CPEC would be completed by December 2016. Major gainers in the sector were DGKC (up 1.02%), LUCK (0.39%) and KOHC (2.49%), observed analysts.

Major activity was seen in PACE, SSGC and DCH with volumes of 30m, 13m and 13.6m shares respectively.