KARACHI: The Pakistan Stock Exchange (PSX) remained bullish with 38 points gain till midday and reached 40185 points level on Thursday.
Earlier, the stocks started trading 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.
