KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 182 points on Thursday owing to positive sentiments of investors after release of IMF fund for Pakistan.
The Index closed at 45,726 points as against previous day’s closing of 45,544 points, showing an increase of 182 points.
Analysts at Arif Habib Limited said that the market responded positively to IMF’s disbursement of 3rd tranche of US$ 500 million and added a total of 456 points during the session and ended the session +182 points.
Although, Banks, E&P, O&GMCs and Fertilizer stocks ended the session in red, it was mostly Tech, Refinery and Cement sectors that contributed positively to the Index.
Telecom sector had PTC as the leading stock which had bearing from sale of Dhabi Group’s stake in Pakistan Mobile Communication Limited (an unlisted company).
Power sector saw KAPCO performing on the expectation of release of funds related to circular debt. Similarly, Chemical sector saw active trades in EPCL, which performed well on the back of healthy product margins.
Among volume leaders, PTC topped the volumes with 61.3 million shares, followed by TRG (38.8 million) and BYCO (38.2 million).
Sectors contributing to the performance include Tech (+118 points), Cement (+30 points), Autos (+25 points), Textile (+15 points), Fertilizer (-27 points), E&P (-22 points) and O&GMCs (-17 points).
Volumes increased from 409.6 million shares to 470.4 million shares (+15 percent DoD). Average traded value moved 1 percent up to reach US$ 166.6 million as against US$ 165.2 million.
Stocks that contributed significantly to the volumes include PTC, TRG, BYCO, UNITY and HASCOL, which formed 40 percent of total volumes.
Stocks that contributed positively to the index include TRG (+107 points), ANL (+21 points), LUCK (+17 points), PAKT (+14 points) and KAPCO (+13 points). Stocks that contributed negatively include MEBL (-24 points), ENGRO (-20 points), HUBC (-16 points), PPL (-12 points) and FFC (-9 points).
