The benchmark KSE-100 Index remained in the green throughout the day
TLTP
KARACHI
The Pakistan Stock Exchange (PSX) remained bullish on Thursday and the benchmark KSE-100 Index gained 406 points (+0.94 percent) to close at 43,766 points.
The benchmark KSE-100 Index remained in the green throughout the day, registering intraday high at 43,793.22 (+433.03 points). It settled higher by 406.50 points at 43,766.69.
Among other indices, the KSE All-Share Index surged by 0.97 percent, or 295.67 points, to close at 30,674.64 points, the KSE 30-Index inflated by 0.94 percent, or 170.02 points, to end at 18,271.64 points, the KMI 30-Index skyrocketed by 1.46 percent, or 1,032.48 points, to conclude at 71,747.61 points, whereas the Islamic All-Share Index elevated by 1.27 percent, or 271.96 points, to finish the trading session at 21,748.55 points.
The overall market volumes increased from 433.00 million shares in the previous session to 497.50 million shares (+15 percent). Average traded value also rose by 5 percent, from $133.5 million to $140.8 million.
Among 393 active scrips on Thursday, the prices of 278 issues closed in the green ink, 95 ended down into the bearish lap, whereas values of 20 other listed companies remained unchanged.
Khyber Tobacco Company Limited emerged as the top performer of the day with an increment of Rs30 per share to close at Rs430, while on the other hand, Rafhan Maize Products Limited led the worst performers with a decrement of Rs100 per share to finish the trading session at Rs9,000.00.
Pak Elektron Ltd (PAEL +5.39 percent), Pakistan Refinery Ltd (PRL +4.29 percent) and K-Electric Ltd (KEL +4.92 percent) led the volume chart, exchanging 30.35 million, 23.92 million and 15.48 million shares, respectively.
Companies like Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL) and Pakistan Oilfields (POL) posted substantial gains as crude oil prices in the international market went up further to entice investors to buy new positions. Market precipitants also took cue from a recent uptick in urea offtake to buy fertilizer shares.
According to bourse experts, investors’ sentiments remained strong after receiving back-to-back good news on the economic front recently despite the Covid-19 pandemic, making the PSX as one of the well-performing markets.
Sectors that painted the benchmark index green included banking (+91.19 points), oil & gas exploration (+64.80 points) and fertilizer (+61.01 points). Among the companies, Habib Bank Ltd (HBL +44.20 points), Pak Petroleum Ltd (PPL +32.33 points) and Engro Corporation Ltd (ENGRO +26.75 points) remained the top contributors.
Adding 3.99 percent to its cumulative market capitalization, the refinery sector ended as the session’s top performer, with Attock Refinery Ltd (ATRL +7.43 percent), Pakistan Refinery Ltd (PRL +7.38 percent) and National Refinery Ltd (NRL +7.50 percent) accumulating decent gains.
According to a daily report issued by Arif Habib Ltd, the market traded in the positive for the entire session, mainly on the back of a consistent increase in international crude oil prices, helping OGDC and PPL ramp up significant trading volumes. Among others, fertilizers performed well on the back of input tax adjustment, whereas late rally in HBL saw the banking sector gain reasonable territory, added the report.
