KARACHI: The successful operation by law enforcement agencies (LEAs) against the terror attack on the Pakistan Stock Exchange (PSX) on Monday boosted investor confidence, resulting in the KSE-100 index closing with a gain of 242 points.
The benchmark KSE-100 index of the PSX ended the day at 34,182 points, up from 33,939 points, showing an increase of 242 points. Analysts at Arif Habib Limited noted that the market had an eventful session, initially impacted by the attack in the early hours of trading. However, the swift response and effective management by security forces stabilized the situation.
Initially, the KSE-100 index dropped by 220 points but gradually recovered, reaching a peak of +268 points by the session’s end. Buying activity was notably observed in sectors such as Banks, Cement, and Oil & Gas Marketing Companies (O&GMCs). The Federal Budget 2021, scheduled to be presented in the Assembly on the same day, also received due approval, contributing to the market’s positive momentum.
Despite the turbulent start at the KSE-100 Index, overall trading volumes dipped compared to the previous session. Most activity focused on financial year-end closing prices. The Cement sector led the volumes with 26 million shares traded, followed by O&GMCs with 25.3 million shares and the Refinery sector with 22.2 million shares. Among individual scripts, PRLR saw 18.4 million shares traded, followed by HASCOL with 11.2 million shares and SSGC with 8.5 million shares.
Key sectors contributing to the positive performance included O&GMCs (+74 points), Cement (+37 points), Banks (+35 points), Autos (+25 points), and Exploration & Production (E&P) (+21 points).
Trading volumes decreased to 156.9 million shares, down from 198.2 million shares in the previous session, reflecting a 23% day-on-day decline. The average traded value also fell by 18% to reach $34 million, compared to $40.3 million previously.
Notable stocks at the KSE-100 index that contributed significantly to the trading volumes included PRLR1, HASCOL, SSGC, DGKC, and MLCF, which collectively accounted for 36% of the total volumes.
Stocks that positively impacted the KSE-100 index included PSO (+38 points), LUCK (+22 points), BAFL (+19 points), PAKT (+19 points), and NBP (+18 points). Conversely, stocks that contributed negatively were BAHL (-17 points), HUBC (-14 points), EFERT (-10 points), JLICL (-8 points), and UBL (-7 points).
The resilience demonstrated by the PSX amidst adversity underscores the robustness of the financial markets in Pakistan, with the swift action by LEAs playing a crucial role in restoring investor confidence and market stability.
