KSE-100 index gains 173 points in mixed trading

KSE-100 index gains 173 points in mixed trading

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) gained 173 points on Monday amid mixed trading during the day.

The index closed at 45,045 points as against last Friday’s closing of 44,872 points.

Analysts at Arif Habib Limited said that increased foreign outflow (due to reclassification of Pakistan from MSCI EM to MSCI Frontier market) in recent sessions has put an added pressure on the Index and today was no different.

Outflows from E&P, Banks and Fertilizer sector kept the local investors poised for further downside in these sectors and reflection of that was witnessed in PPL, POL, HBL, SYS, EFERT.

Uptick in NETSOL, TRG and AVN just prior to commencement of trading in Octopus digital, helped the index turn green, which was otherwise down by 310 points during the session.

The lost points saw recovery by the close of session and added a net gain of 153 points (unadjusted). Among scrips, TELE topped the volumes with 25.6 million shares, followed by WTL (21.6 million) and SMBL (14.7 million).

Sectors contributing to the performance include Technology (+70 points), Pharma (+48 points), Food (+21 points), Chemical (+18 points) and Inv Banks (+13 points).

Volumes remained the same at 267.2 million shares (+0.1 per cent DoD). Average traded value also increased by 12 per cent to reach US$ 59.1 million as against US$ 52.8 million.

Stocks that contributed significantly to the volumes include TELE, WTL, SMBL, BYCO and GGL, which formed 33 per cent of total volumes.

Stocks that contributed positively to the index include TRG (+49 points), SEARL (+39 points), COLG (+17 points), AVN (+17 points) and ENGRO (+16 points). Stocks that contributed negatively include PPL (-23 points), LUCK (-21 points), POL (-12 points), FFC (-11 points) and CHCC (-8 points).

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