KARACHI
\nThe Pakistan Stock Exchange (PSX) remained positive for the second straight session on Monday, with the benchmark KSE-100 Index gaining 439.27 points (+0.99 percent) to close at 44,339.95 points.
\nThe market opened on a positive note but took a dip soon after crossing the 44,000 level and shed around 90 points during the first half-an-hour. However, later the bulls controlled the trading throughout the session.
\nThe KSE-100 Index moved in a range of 675.9 points, showing an intraday high of 44,484.7 points and a low of 43,808.8 points. Among other indices, the KSE All Share Index gained 243.51 points (+0.81 percent) to close at 30,272.06 points, while KMI All Share Islamic Index gained 211.25 points (+0.97 percent) to close at 21,906.82 points.
\nA total of 354 companies traded shares in the stock exchange, out of them shares of 251 closed up, shares of 83 closed down while shares of 20 companies remained unchanged. Out of 95 traded companies in the KSE-100 Index, 75 closed up, 19 closed down and one remained unchanged.
\nThe overall market volumes decreased by 13.75 million to 238.45 million shares. Total volumes traded for the KSE-100 Index increased by 13.51 million to 118.59 million shares. The number of total trades increased by 12,682 to 111,367, while the value traded increased by Rs1.34 billion to Rs9.40 billion. Overall market capitalisation increased by Rs60.97 billion.
\nAmong scrips, TRG topped the volumes with 25.68 million shares, followed by WTL (17.46 million) and BYCO (13.94 million). Stocks that contributed significantly to the volumes include TRG, WTL, BYCO, TELE, and SILK, which formed around 35 percent of total volumes.
\nThe major sectors taking the index toward north were cement with 101 points, technology & communication with 88 points, fertilizer with 58 points, commercial banks with 35 points and oil & gas exploration companies with 30 points. The most points added to the index were by TRG which contributed 90 points followed by LUCK with 52 points, ENGRO with 33 points, CHCC with 15 points and BAHL with 15 points.
\nThe major sectors taking the index toward south were refinery with 7 points, investment banks\/ investment companies\/ securities companies with 3 points, tobacco with 2 points and vanaspati & allied industries with one point. The most points taken off the index were by SYS which stripped the index of 13 points followed by BYCO with 9 points, UBL with 8 points, DAWH with 7 points and MTL with 3 points.
\nAccording to experts, the IT sector performed well during the day and the sector is likely to perform well in coming days. They said that positive news about TRG lifted the entire sector. They said that volumes remained low as compared to the last trading session, as traders are cautious ahead of the presentation of mini-budget. They expected range-bound trading due to this specific factor in the coming days.
\nThey said that the investors\u2019 sentiments improved due to Pakistan\u2019s diplomatic achievement as it successfully hosted the extraordinary session of the Organisation of Islamic Cooperation (OIC) in Islamabad. They were hopeful that improvement in Afghan situation will cast positive impacts on Pakistan.
\nAccording to a closing note by Topline Securities, the investors cheered the interesting move by the State Bank of Pakistan (SBP) as they conducted 7 and 63 days open market operation (OMO) injection last week, which gave a signal of stability to the market.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) remained positive for the second straight session on Monday, with the benchmark KSE-100 Index gaining 439.27 points (+0.99 percent) to close at 44,339.95 points. The market opened on a positive note but took a dip soon after crossing the 44,000 level and shed around 90 points during the first […]<\/p>\n","protected":false},"author":2,"featured_media":230615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[325,418,205],"class_list":{"0":"post-234091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-kse","9":"tag-pakistan-stock-exchange","10":"tag-psx"},"yoast_head":"\n