PSX turns around, gains 179 points


Pakistan Stock Exchange (PSX) bounced back on Thursday to recoup some losses of the previous session, with the benchmark KSE-100 Index gaining 179.41 points (+0.37 percent) to close at 48,325.84 points.
The market opened on a negative note but soon reversed its course and gained over 100 points during the first half an hour trading. However, this positiveness proved short-lived and bears took control for the next hour, with the benchmark index touching the day’s low. Later, the buyers came in and the market remained in the green territory for the rest of the session.
The benchmark index traded in a range of 503.66 points showing an intraday high of 48,397.37 points and an intraday low of 47,893.71 points. Among other indices, the KSE All Share Index gained 99.44 points (+0.31 percent) to close at 32,009.10 points, while KMI All Share Islamic Index gained 67.38 points (+0.29 percent) to close at 23,308.56 points.
Total volumes traded for the KSE-100 Index decreased by 3.58 million shares to 101.40 million shares against 104.98 million shares traded a session earlier. However, the overall market volumes increased by 32.36 million shares to 226.94 million shares against 194.58 million shares traded a session earlier.
Among scrips, DFML topped the volumes with 25.21 million shares, followed by JSBL (14.38 million) and PRL (12.58 million). Stocks that contributed significantly to the volumes included DFML, JSBL, PRL, OGDC, and PPL, which formed over 30 percent of total volumes.
A total of 321 companies traded shares in the stock exchange against 336 a session earlier, out of which shares of 154 closed up, shares of 144 closed down while shares of 23 companies remained unchanged. A total of 94 companies traded shares in the KSE-100 Index against 92 a session earlier, out of which share price of 53 companies closed up, 36 closed down and five remained unchanged.
The number of total trades increased by 13,811 to 127,529 against 113,718 trades in the previous session, while the value traded increased by Rs2.35 billion to Rs10.02 billion as compared to the previous session.
In terms of rupee, ISIL remained the top gainer and witnessed an increase of Rs42.5 (+7.08 percent) per share, closing at Rs642.5. The runner-up remained SAPL, the share price of which climbed up by Rs38 (+4.99 percent) to Rs800. SFL remained the top loser in terms of rupee and witnessed a decrease of Rs91.5 (-7.32 percent) per share, closing at Rs1,158.5, followed by RMPL, the share price of which fell by Rs53.2 (-0.63 percent) to close at Rs8,446.8 per share. The sectors taking the index towards north were technology & communication (80 points), oil & gas exploration companies (79 points), POL (29 points), PPL (25 points), OGDC (23 points), and FFC (21 points).