Benchmark index advances 0.43% to settle at 46,287.38
TLTP
KARACHI
The Pakistan Stock Exchange (PSX) remained bullish on Tuesday on the back of cement and energy sectors and the benchmark KSE-100 Index gained 199.74 point (+0.43 percent) to close at 46,287.38 points.
The market followed an upward trajectory as the cement sector saw increased investors’ interest owing to an increase of Rs5 per bag in the northern region after which the sector closed up by 1.82 percent. Likewise, agreement between the government and independent power producers (IPPs) also added to investors’ confidence in the bourse.
The KSE-100 Index remained positive throughout the session touching an intraday high of 46,398.60. Among other indices, KSE All Share Index gained 75.01 points to close at 32,025.47 points and All Share Islamic Index gained 102.87 points to close at 22,593.15 points.
A total of 413 companies traded shares in the stock exchange, out of them shares of 199 closed up, shares of 203 closed down while shares of 11 remained unchanged. Overall volume increased by 133.18 million to 603.24 million shares, while market capitalisation increased by Rs20.32 billion. The total number of trades remained by 29,160 to 185,231. the value of traded shares increased by 5.75 billion to Rs26.80 billion.
Among scrips, JSBL led the volumes with 65.3 million shares, followed by TRG (36.2 million) and FFBL (36 million). The stocks including JSBL, TRG, FFBL, HASCOL and UNITY formed 33 percent of total volumes.
Sectors propping up the index were cement with 93 points, technology & communication with 43 points, oil & gas marketing companies with 34 points, chemical with 31 points and oil & gas exploration companies with 22 points. The most points added to the index was by TRG which contributed 37 points followed by PSO with 26 points, PIOC with 21 points, LUCK with 21 points and POL with 17 points.
Sector-wise, the index was let down by commercial banks with 28 points, investment banks / investment companies/ securities companies with 16 points, pharmaceuticals with 7 points, glass & ceramics with 6 points and tobacco with 5 points.
The most points taken off the index was by DAWH which stripped the index of 15 points followed by AGP with 12 points, UBL with 10 points, FFBL with 9 points and BAFL with 9 points.
Analysts at Arif Habib Limited said that the market continued the buoyant mood with an increase of 310 points during the session, and ending 200 points. Cement sector performed well on the back of an expectation of increase in cement price / bag. Similarly, E&P and O&GMCs performed due to an uptick in international crude price as well as a pending decision over revision of OMCs dealer margins, which is expected to be taken in tomorrow’s ECC meeting.
Fertilizer sector also performed well due to the recent price hike in DAP prices. Tech stocks continued rallying today, which helped the index post consistent gains, said the report.
