KSE-100 gains 362 points amid Pak-India border tension

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 362 points despite tension on the Pak-India borders.
The index closed at 39,055 points as against 38,693 points showing an increase of 362 points.
Analysts at Arif Habib Limited said that the market opened on a positive note today and leaped by 123 points at the opening.
During the session, the index increased by 456 points, however, later the investors showed concern due to tensions on the border, which resulted in a decline of 134 points.
Market recovered back in the last trading hours that resulted in an adjusted closing of +362 points.
Though volumes declined as compared to yesterday, nonetheless healthy volumes were seen in the end.
Banking sector led the volumes table with 24 million shares, which was topped by BOP.
Sectors contributing to the performance include Banks (+63 points), Autos (+37 points), Pharma (+35 points), Tobacco (+33 points), Miscellaneous (+29 points).
Volumes declined from 274 million shares to 159 million shares (-42 percent DoD). Average traded value also declined by 28 percent to reach US$ 53 million as against US$ 74 million.
Stocks that contributed significantly to the volumes include BOP, WTL, KEL, PAEL and FCCL, which formed 29 percent of total volumes.
Stocks that contributed positively include DAWH (+36 points), PAKT (+33 points), OGDC (+29 points), PSEL (+23 points), and MEBL (+19 points). Stocks that contributed negatively include MCB (-19 points), NESTLE (-14 points), PPL (-12 points), ENGRO (-11 points) and EFERT (-11 points).
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