PSX extends gains with 256 points for second day


The Pakistan Stock Exchange (PSX) extended gains for the second day in a row on Wednesday amid fall in global crude oil prices, with the benchmark KSE-100 Index gaining 255.87 points (+0.59 percent) to close at 43,975.69 points.
The PSX opened on a positive note and remained positive throughout the session. The KSE-100 Index breached the 44,000 points level during the intraday trading.
However, political instability in the country trimmed a major part of the gains. On the other hand, the Pakistani rupee plunged to all-time lowest level of 179.44 against the US dollar during the day – setting third low in three days – smashing the investors’ confidence.
The KSE-100 Index moved in a range of 561.45 points, showing an intraday high of 44,281.27 points and a low of 43,719.82 points. Among other indices, the KSE All Share Index gained 56.99 points (+0.19 percent) to close at 29,996.69 points, while KMI All Share Islamic Index gained 112.86 points (+0.52 percent) to close at 21,759.83 points.
A total of 365 companies traded shares in the stock exchange, out of them shares of 216 closed up, shares of 122 closed down while shares of 27 companies remained unchanged. Out of 95 traded companies in the KSE-100 Index, 60 closed up and 31 closed down and four remained unchanged.
The overall market volumes increased by 47.47 million to 236.51 million shares. Total volumes traded for the KSE-100 Index increased by 28.41 million to 77.40 million shares. The number of total trades increased by 18,030 to 92,519, while the value traded increased by Rs1.10 billion to Rs5.79 billion. Overall, market capitalisation increased by Rs11.11 billion.
Among scrips, FlyingR1 topped the volumes with 22.35 million shares, followed by WTL (19.69 million) and TREET (15.23 million). Stocks that contributed significantly to the volumes included FlyingR1, WTL, TREET, TPLP and PaelR3, which formed over 34 percent of total volumes.
In terms of rupee, BATA remained the top gainer and witnessed an increase of Rs90.01 (4.13 percent) per share, closing at Rs2,268. The runner-up was MEHT, the share price of which climbed up by Rs59.33 (7.47 percent) to Rs853.99. RMPL remained the top loser in terms of rupee for the second straight day and witnessed a decrease of Rs400 (3.39 percent) per share, closing at Rs11,400, followed by WYETH, the share price of which declined by Rs120.88 (5.62 percent) to close at Rs2,029.12 per share.
The sectors taking the index towards north were technology & communication (88 points), cement (76 points), commercial banks (41 points), food & personal care products (22 points) and textile composite (19 points). The most points added to the index were by SYS (77 points), DGKC (21 points), MEBL (17 points), UBL (16 points) and HUBC (15 points).
The sectors taking the index towards south were tobacco (15 points), automobile assembler (13 points), oil & gas exploration companies (11 points), fertilizer (11 points) and chemical (4 points). The most points taken off the index were by HBL (20 points), PAKT (15 points), INDU (15 points), COLG (7 points) and ENGRO (6 points).