KARACHI: The Pakistan Stock Exchange (PSX) started trading Thursday on positive note after gaining 69 points to reach 40215 points level in early trading.
On Wednesday, the PSX rallied past 40,000-point level with good volumes and healthy upside to the index. E&P stocks were triggered by increase in international crude oil price, whereas cement sector played on low PE multiples.
The benchmark 100-share index closed at 40,147 points, showing an upside of 621 points. Major contribution came from cement sector that added 142 points and oil & gas E&Ps that added 132 points, brokers said.
Top 10 index point contributors were LUCK (up 5%), PPL (3%), OGDC (2.4%), UBL (1.7%), DGKC (5%), ENGRO (1.6%), MCB (1.2%), FFC (1.9%), SEARL (4.1%) & FCCL (5%), adding 342 points to the index.
Sector-wise, cements added 142 points, E&Ps added 132 points as int’l oil prices skirted sixty (US$/bbl), banks 81 points, fertilizers 72 points & engineering 42 points respectively to the index.
Total volumes also increased to 199m shares as compared to 178m shares of Tuesday (up 12% DoD). Average traded value also increased by 30% to reach $ 84m as compared to $ 64.7m Tuesday.
Stocks that contributed significantly to the volumes included TRG, WTL, KEL, BAFL and PAEL contributing a total of 63m shares, reflecting 32% share of total volumes.
