Equity market gains 151 points to follow global stocks

Equity market gains 151 points to follow global stocks

KARACHI: The equity market gained 151 points on Monday to observe positive streak and follow international market movement.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,203 points as against 35,051 points showing an increase of 151 points.

Analysts at Arif Habib Limited said that the market went up 187 points during the session and made a comfortable close above 35200 level.

E&P, OMC, Cement and Pharma sectors performed well. Although profit booking was also observed in Pharma sector.

Fertilizer sector bore price loss on the back of profit booking. Among Chemical sector, both LOTCHEM and EPCL performed well with LOTCHEM closing at upper circuit.

Technology sector led the volumes with 66.8 million shares, followed by Chemical (48.7 million) and Cable (39.2 million). Among scrips, TRG did 37.7 million shares, followed by PAEL (37.6 million) and LOTCHEM (30.8 million).

Sectors contributing to the performance include E&P (+40 points), Cement (+34 points), Pharma (+26 points), O&GMCs (+26 points) and Autos (+18 points).

Volumes increased from 175.7 million shares to 332.2 million shares (+89 percent DoD). Average traded value also increased by 66 percent to reach US$ 67 million as against US$ 40.4 million.

Stocks that contributed significantly to the volumes include TRG, PAEL, LOTCHEM, MLCF and JSCL, which formed 40 percent of total volumes.

Stocks that contributed positively to the index include PPL (+16 points), PSO (+16 points), INDU (+14 points), GLAXO (+10 points) and TRG (+10 points). Stocks that contributed negatively include HUBC (-40 points), DAWH (-34 points), FFC (-18 points), BAFL (-7 points), and PTC (-6 points).