The benchmark KSE-100 Index gaining to close at 43,719.82 points
KARACHI
The Pakistan Stock Exchange (PSX) turned positive on Tuesday amid fall in global crude oil prices, with the benchmark KSE-100 Index gaining 352.93 points (+0.81 percent) to close at 43,719.82 points.
The PSX opened on a positive note but traded sideways for most part of the session. However, strong buying activity was observed during the last trading hour, which not only pushed up the indices but also improved volumes. The KSE-100 Index gained around one-thirds of its total volumes of the day during the last one-and-a-half hour.
Political instability in the country played a major role to keep the market lacklustre as Prime Minister Imran Khan is facing a vote of no-confidence and the situation weighed on the bourse. On the other hand, the Pakistani rupee plunged to all-time lowest level of 179.22 against the US dollar during the day – setting two new lows in two days – smashing the investors’ confidence.
However, reports about peace talks between Russia and Ukraine and falling crude oil prices due to surging coronavirus cases in China managed to restore investors’ confidence in the local bourse, which eroded all the losses of the previous day.
The KSE-100 Index moved in a range of 466.81 points, showing an intraday high of 43,793.57 points and a low of 43,326.76 points. Among other indices, the KSE All Share Index gained 166.64 points (+0.56 percent) to close at 29,939.7 points, while KMI All Share Islamic Index gained 125.34 points (+0.58 percent) to close at 21,646.97 points.
A total of 353 companies traded shares in the stock exchange, out of them shares of 213 closed up, shares of 109 closed down while shares of 31 companies remained unchanged. Out of 96 traded companies in the KSE-100 Index, 61 closed up and 27 closed down and eight remained unchanged.
The overall market volumes increased by 73.92 million to 189.04 million shares. Total volumes traded for the KSE-100 Index increased by 5.78 million to 48.99 million shares. The number of total trades increased by 7,592 to 74,489, while the value traded increased by Rs1.04 billion to Rs4.69 billion. Overall, market capitalisation increased by Rs33.12 billion.
Among scrips, TELE topped the volumes with 19.57 million shares, followed by TPLP (15.29 million) and TREET (13.73 million). Stocks that contributed significantly to the volumes included TELE, TPLP, TREET, WTL and SSGC, which formed over 38 percent of total volumes.
In terms of rupee, UPFL remained the top gainer and witnessed an increase of Rs499 (2.33 percent) per share, closing at Rs21,899. The runner-up was BATA, the share price of which climbed up by Rs89.11 (4.27 percent) to Rs2,177.99. RMPL remained the top loser in terms of rupee and witnessed a decrease of Rs61 (0.51 percent) per share, closing at Rs11,800, followed by ISIL, the share price of which declined by Rs22.13 (4.02 percent) to close at Rs527.85 per share.
The sectors taking the index towards north were cement (76 points), power generation & distribution (68 points), technology & communication (55 points), commercial banks (39 points) and oil & gas marketing companies (26 points). The most points added to the index were by HUBC (66 points), LUCK (36 points), TRG (28 points), SYS (21 points) and HBL (20 points).
The sectors taking the index towards south were oil & gas exploration companies (50 points), insurance (7 points), and modarabas, miscellaneous and real estate investment trust (one point each). The most points taken off the index were by PPL (17 points), OGDC (16 points), POL (15 points), UBL (9 points) and EFERT (6 points).
