KARACHI: The equity market gained 622 points on Monday in mixed trading session during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,796 points as against previous closing of 45,175 points showing an increase of 622 points.
Analysts at Arif Habib Limited said that first trading session after a long Eid vacation, the Market opened +347 points, courtesy LUCK & TRG.
MSCI EM review during the off period saw inclusion of LUCK and TRG and deletion of INDU, PKGS, OGDC and NBP that resulted in negative price performance in OGDC and likewise positive price performance in LUCK.
The momentum kept the interest alive and the index kept posting gains with a total addition of 632 points.
In addition, Tech stocks continued the uptrend with prominent performance by TRG, NETSOL and AVN. Among scrips, WTL topped the volumes with 72.9 million shares, followed by KEL (38.3 million) and GGL (35.9 million).
Sectors contributing to the performance include Cement (+200 points), Technology (+140 points), Fertilizer (+55 points), Textile (+35 points) and Vanaspati (+34 points).
Volumes increased from 245.6 million shares to 437.4 million shares (+78 percent DoD). Average traded value also increased by 115 percent DoD to reach US$ 133.5 million as against US$ 62.2 million.
Stocks that contributed significantly to the volumes include WTL, KEL, GGL, TELE and UNITY, which formed 44 percent of total volumes.
Stocks that contributed positively to the index include TRG (+135 points), LUCK (+94 points), UNITY (+34 points), MCB (+32 points) and MLCF (+24 points). Stocks that contributed negatively include OGDC (-65 points), PPL (-19 points), HBL (-8 points), NRL (-8 points) and BAFL (-6 points).
