KARACHI: The Pakistan Stock Exchange (PSX) closed positive and regained 43,000 mark as the benchmark KSE-100 gained 244.48 points to end at 43,239.44 level.
The index opened higher and gained 320 points to touch a day’s high of 43323.18 points before selling pressure set in, forcing it to a day’s low of 42994.96 points towards the day’s close.
In all, 367 million shares worth Rs151.36 billion were traded at the exchange. Of the 367 traded scrips, 178 advanced, 169 declined and 20 remained unchanged. The chemical sector dominated trading with 2.72m shares traded, while cements followed with 1.65m shares changing hands.
Yesterday, the PSX staged modest recovery, with the benchmark KSE 100-index gaining 84 points to close at 42,995 points. The market kicked off on a negative note, which the dealers believed was on the back of ongoing political unrest in the country. Late buying by value buyers led market to close finally up.
Bullish activity was seen in cement sector which contributed +34 points to index, owing to dip in international coal prices to $94/ton as well as investors’ bet on robust sales in the outgoing month. The market saw low trading activity with volumes going down by 14% and value declining by 5% due to absence of major trigger.
UBL (down 1.9%), DAWH (1.9%), MUREB (5%), NATF (5%) & NBP (1.5%) withheld 79 points from the index, whereas MCB (up 1.8%), HBL (1%), PAKT (4.8%), PPL (1.2%) & DGKC (3.5%) added 136 points to the index.
Top volume leaders were PAEL, TRG, AGL, DSL and FF, contributing 33% to the total volume. The market volume decreased by 14% DoD from 168m to 145m, whereas traded value decreased by 5% DoD to $61.
