KARACHI
Pakistan Stock Exchange (PSX) hailed an improved outlook in the economy on Monday, with the KSE-100 Index gaining 394.49 points (+0.85 percent) to close at 46,627.08 points.
The market opened on a positive note and remained positive throughout the session as the government announced a reduction in fuel prices, slashing the prices of petrol and high-speed diesel by Rs8 per litre and Rs11 per litre, respectively, for the next fortnight. Moreover, the rupee’s continuous appreciation against the US dollar provided some confidence to investors in the market. The rupee closed September as the world’s best-performing currency, appreciating by 6.19 percent against the US dollar, its second-highest monthly gain since 2014.
The benchmark index traded in a range of 472.05 points, showing an intraday high of 46,704.64 points and an intraday low of 46,232.59 points, which was the previous close. Among other indices, the KSE All Share Index gained 214.23 points (+0.68 percent) to close at 31,372.93 points, while KMI All Share Islamic Index gained 208.50 points (+0.91 percent) to close at 22,844.95 points.
Total volumes traded for the KSE-100 Index increased by 19.82 million to 100.35 million shares against 80.53 million shares traded a session earlier. The overall market volumes increased by 24.98 million shares to 202.60 million shares against 177.62 million shares traded a session earlier.
Among scrips, WTL topped the volumes with 44.89 million shares, followed by CNERGY (17.10 million), and OGDC (17.02 million). Stocks that contributed significantly to the volumes included WTL, CNERGY, OGDC, PPL, and PMI, which formed around 45 percent of total volumes.
A total of 328 companies traded shares in the stock exchange against 326 a session earlier, out of which shares of 166 closed up, shares of 142 closed down while shares of 20 companies remained unchanged. A total of 95 companies traded shares in the KSE-100 Index against 94 companies in the previous session, out of which share price of 56 companies closed up, 35 closed down and four remained unchanged.
The number of total trades decreased by 14,002 to 96,445 from 110,447 a session earlier, while the value traded increased by Rs0.47 billion to Rs7.40 against Rs6.93 billion in the previous session.
In terms of rupee, ISIL remained the top gainer with an increase of Rs48.75 (+7.5 percent) per share, closing at Rs698.75. The runner-up remained PHDL, the share price of which climbed up by Rs19.28 (+7.5 percent) to Rs276.32. AABS remained the top loser with a decrease of Rs33.84 (-6.22 percent) per share, closing at Rs510.11, followed by ABOT, the share price of which fell by Rs9.49 (-2.75 percent) to close at Rs336.01 per share.
The major sectors taking the index towards north remained oil & gas exploration companies (113 points), technology & communication (85 points), fertilizer (62 points), commercial banks (48 points), and oil & gas marketing companies (24 points). The major companies adding points to the index remained SYS (73 points), ENGRO (59 points), OGDC (54 points), POL (32 points), and PPL (27 points).
The sectors taking the index towards south were pharmaceuticals (8 points), synthetic & rayon (3 points), leather & tanneries and transport (3 points), and cement (2 points). The major companies depriving the index of points remained BAFL (14 points), HBL (8 points), FFC and ABOT (6 points each), and KEL (5 points).
