KSE-100 index gains 204 points in mixed trading

KSE-100 index gains 204 points in mixed trading

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) on Tuesday increased by 204 points in mixed trading activities during the day.

The Index closed at 46,301 points as against previous day’s closing of 46,097 points, showing an increase of 204 points.

Analysts at Arif Habib Limited said that the market remained positive today adding a total of 272 points during the session and closed +204 points.

O&GMCs bore selling pressure on the news of cancellation of operating licenses and probe by government, whereas E&P sector responded positively to the increase in international crude oil prices.

Cement sector also performed in the expectation of an increase in cement price / bag. Technology sector stocks led the index today with across the board strong price performance, particularly from NETSOL, WTL and SYS. Among scrips, WTL led the table with 149.5 million shares, followed by UNITY (66.8 million) and TELE (37.6 million).

Sectors contributing to the performance include Banks (+154 points), Cement (+39 points), Vanaspati (+32 points), Fertilizer (+17 points) and Textile (+17 points).

Volumes declined from 766.6 million shares to 677.4 million shares (-12 percent DoD). Average traded value however, increased by 18 percent to reach US$ 152.3 million as against US$ 129.7 million.

Stocks that contributed significantly to the volumes include WTL, UNITY, TELE, HUMNL and BYCO, which formed 46 percent of total volumes.

Stocks that contributed positively to the index include HBL (+68 points), UBL (+31 points), UNITY (+31 points), DGKC (+21 points) and EFERT (+16 points). Stocks that contributed negatively include COLG (-27 points), HUBC (-19 points), MARI (-15 points), TRG (-10 points) and PSO (-8 points).