KARACHI: The Pakistan Stock Exchange on Wednesday started trading keeping previous day’s positive note and added huge 320 points to reach 43315 level in early trading.
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 USD 61.
