KSE-100 index gains 67 points in mixed trading activities

0
29

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 67 points on Thursday amid mixed trading activities.

 

 

The index closed at 41,716 points as against 41,649 points showing an increase of 67 points.

Analysts at Arif Habib said that market repeated yesterday’s episode of mixed trend and lack of clear direction.

The index moved from +178 points to -195 points during the day, with most of the volume going towards Cement, Chemical and Transport sectors.

Key volume leaders include PIBTL, BOP, PAEL and TRG, of which PAEL and TRG hit upper circuit.

Political uncertainty added to investors’ confusion, besides lack of triggers besides upcoming China visit, where there is already an anticipation of financial support.

Key scrips among Cement sector failed to maintain higher prices today, except for MLCF, mainly due to profit booking.

HBL, UBL, MCB and BAFL lagged behind and contributed to decline in index level. At the same time, decline in international oil prices caused the slide in E&P stocks, mainly OGDC and POL.

Sectors contributing to the performance include Textile (+34 points), Pharma (+34 points), O&GMCs (+19 points), Autos (+16 points), Chemical (+16 points), Banks (-50 points) and E&P (-37 points).

Volumes continued to slid down from 285 million shares yesterday to 244 million shares today (-14 percent DoD).

Average traded value also declined by 13 percent to reach US$ 74.2 million as against US$ 85.1 million.

Stocks that contributed significantly to the volumes include PIBTL, BOP, PAEL, TRG and KEL reflecting 30 percent of total volumes.

Copyright © Pakistan Revenue pkrevenue.com