KARACHI: The Pakistan Stock Exchange closed all-time high on Wednesday after gaining 269.44 points (up0.63 percent) to close at 42,901 points.
UBL and HBL contributed 73 points while PPL and POL contributed 40 points to the gain in index. ASTL (4.59 percent) and Mughal (4.31 percent) were the top performers in the aforementioned sector.
Investors’ interest was also seen in the cement sector, as the sector gained to close (1.37 percent) higher from its previous day close. ACPL and BWCL were top performers in the aforementioned sector, while POL (2.19 percent) and PPL (1.20 percent) in the E&P sector, gained to close in the green zone on the back surge in crude oil prices, as crude oil prices crossed $48/bbl level.
Overall, volumes increased by 6 percent to 495 million shares, while value rose by 11 percent to reach Rs18.1 billion/$173 million. OGDCL announced through a notice achieving the highest-ever crude production of 50157 barrels per day.
Earlier, the stocks opened bearish after shedding 27.53 points to drop to 42604.05 points level in early trading. Opened with negative note, the Pakistan Stock Exchange recouped till midday with 74.71 points to reach 42706.29 points level.
On Tuesday, the stocks market continued its positive momentum as the 100-share index, led by oil and auto scrips, gained 192.54 points to close at 42,631.58 points.
POL (3.64%) was the top performer of the aforementioned sector. PIAA (1.44%) gained on the back of the news that national carrier has decided to structure the entity into four separate businesses namely flight operations, engineering, training and courier service. Overall, volumes increased by 34.5% to 467m shares, while value rose by 75% to Rs16.3b/$156m. Oil marketing companies continued to interest investors as HASCOL, BYCO gained 5% each, while SSGC and SNGPL gained 3.8% and 5% respectively. PACE led the volumes with 45m shares traded.
