KSE-100 gains 242 points: successful anti-terror operation boosts investors’ confidence

KARACHI: The successful operation of law enforcement agencies (LEAs) against terror attack on Pakistan Stock Exchange (PSX) on Monday which boosted the investors’ confidence and the market ended with a gain of 242 points.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,182 points as against 33,939 points showing an increase of 242 points.

Analysts at Arif Habib Limited said that the market had an eventful session, marred by the attack on Pakistan Stock Exchange in the early hours of trading, which was fought off and well managed by the Security forces.

The index went down by 220 points in the early part of the session, but gradually recovered with +268 points.

Buying activity was observed in Banks, Cement and O&GMCs. Federal Budget 2021 was also scheduled to be presented in the Assembly today and got due approval.

Overall volumes dipped below last trading session, however, most of the activity concentrated on financial year end closing prices.

Cement sector topped the volumes with 26 million shares, followed by O&GMCs (25.3 million) and Refinery (22.2 million). Among scrips, PRLR realized 18.4 million shares, followed by HASCOL (11.2 million) and SSGC (8.5 million).

Sectors contributing to the performance include O&GMCs (+74 points), Cement (+37 points), Banks (+35 points), Autos (+25 points), E&P (+21 points).

Volumes declined from 198.2 million shares as against 156.9 million shares (-23 percent DoD). Average traded value also declined by 18 percent to reach US$ 34 million as against US$ 40.3 million.

Stocks that contributed significantly to the volumes include PRLR1, HASCOL, SSGC, DGKC and MLCF, which formed 36 percent of total volumes.

Stocks that contributed positively to the index include PSO (+38 points), LUCK (+22 points), BAFL (+19 points), PAKT (+19 points) and NBP (+18 points). Stocks that contributed negatively include BAHL (-17 points), HUBC (-14 points), EFERT (-10 points), JLICL (-8 points), and UBL (-7 points).

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