KARACHI
Pakistan Stock Exchange (PSX) turned bullish on Monday after Finance Minister Ishaq Dar hinted at a business-friendly budget and rejected a chance of the country’s default, with the benchmark KSE-100 Index gaining 375.52 points (+0.92 percent) to close at 41,340.06 points.
The market opened on a positive note and remained in the green throughout the session. The benchmark index during the intraday gained 675 points at a time when profit-taking activity brought the index down.
The KSE-100 Index moved in a range of 643.98 points, showing an intraday high of 41,649.13 points and a low of 41,005.15 points. Among other indices, the KSE All Share Index gained 234.10 points (+0.85 percent) to close at 27,650.12 points, while KMI All Share Islamic Index gained 197.55 points (+0.99 percent) to close at 20,0037.69 points.
The overall market volumes increased by 177.87 million to 346.35 million shares against 168.48 million shares a session earlier. Main company that ballooned the volumes remained WTL whose 193.9 million shares were traded in the session. Total volumes traded for the KSE-100 Index remained 95.41 million against 107.42 million a session earlier, showing a decrease of 12.01 million shares.
Among scrips, WTL topped the volumes with 193.9 million shares, followed by MLCF (10.94 million) and KEL (8.95 million). Stocks that contributed significantly to the volumes included WTL, MLCF, KEL, DGKC and GRR, which formed over 65 percent of total volumes.
A total of 342 companies traded shares in the stock exchange as compared to 325 a session earlier. Out of traded companies, shares of 202 closed up, shares of 124 closed down while shares of 16 companies remained unchanged. A total of 97 companies traded shares in the KSE-100 Index against 95 a session earlier, out of which shares of 53 companies closed up, 39 closed down and five remained unchanged.
The number of total trades decreased by 1,140 to 94,724 against 95,864 a session earlier, while the value traded decreased by Rs0.39 billion to Rs6.39 billion.
In terms of rupee, RMLP remained the top gainer and witnessed an increase of Rs202 (+2.53 percent) per share, closing at Rs8,202. The runner-up remained COLG, the share price of which climbed up by Rs85.88 (+5.89 percent) to Rs1,543.54. NESTLE remained the top loser in terms of rupee and witnessed a decrease of Rs142 (-2.12 percent) per share, closing at Rs6,560, followed by BATA, the share price of which fell by Rs60 (-3.54 percent) to close at Rs1,635 per share.
The sectors taking the index towards north were technology & communication (114 points), fertilizer (56 points), oil & gas exploration companies (53 points), cement (40 points) and miscellaneous (28 points). The major companies adding points to the index were SYS (67 points), TRG (44 points), COLG (29 points), ENGRO (28 points) and PSEL (26 points).
The sectors taking the index towards south were commercial banks (17 points), pharmaceuticals (9 points), food & personal care products (9 points), oil & gas marketing companies (3 points) and modarabas (2 points). The companies which deprived index of most of the points included NESTLE (9 points), NBP (7 points), SEARL (6 points), PSO (6 points) and ABOT (4 points). TLTP
