LAHORE - The Pakistan Stock Exchange (PSX) ended the session on a positive note with the benchmark KSE-100 index gaining +156 points, (up +0.4 percent DoD).
The index opened higher and continued on an upward trajectory, making a high of +296 points, to finally close at 40,058 levels. Experts said that the market remained positive on the news that Federal Minister for Finance Asad Umar is going to unveil the mini-budget in the National Assembly. Moreover the State Bank of Pakistan (SBP) signed an agreement with Abu Dhabi Fund for Development (ADFD) for $3 billion to be deposited in the SBP account.
Banking space witnessed heavy volumes in Wednesday's trading session where HBL (+2.2 percent), UBL (+1.2 percent), NBP (+0.5 percent) and MCB (+0.3 percent) cumulatively contributed +72 points to the index. Investors interest was witnessed in the auto sector where HCAR (+5.0 percent), PSMC (+5.0 percent) closed at their respective upper circuit while INDU (+2.9 percent) closed in the green zone as investors await for the mini budget where relaxation could be given to non fillers.
Total volume was recorded at 179mn shares, up 31 percent from the last session. KEL (-0.2 percent), BOP (+0.9 percent) and TRG (+1.2 percent) led the volumes with more than 39mn shares changing hands.
Moving forward, it is recommended to the investors to track news flows with respect to the reform package.
