KSE-100 index gains 229 points in mixed trading

KSE-100 index gains 229 points in mixed trading

KARACHI: The benchmark KSE-100 index increased by 229 points on Monday in mixed trading activities.

The KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,365 points as against last Friday’s closing of 47,136 points, showing an increase of 229 points.

Analysts at Arif Habib Limited said that market performed well after closing the rollover week.

The ascent in international crude oil prices, due to hurricane IDA, helped propel Oil and Gas chain, particularly E&P stocks.

Power sector saw HUBCO coming to the fore on the back of declaration of healthy dividends.

Besides, cement, fertilizer, steel and technology stocks contributed positively to the Index. Banks, Autos and Textile sector saw continued profit booking.

Volumes remained virtually the same at 382.6 million shares against 382.3 million shares the other day. Average traded value declined by 8 per cent to reach US$ 74.3 million as against US$ 80.1 million.

Stocks that contributed significantly to the volumes include BYCO, GGL, WTL, YOUW and TELE, which formed 38 per cent of total volumes.

Stocks that contributed positively to the index include HUBC (+75 points), ENGRO (+31 points), OGDC (+26 points), PPL (+22 points) and TRG (+17 points). Stocks that contributed negatively include MEBL (-49 points), HBL (-38 points), MCB (-14 points), MARI (-11 points) and UBL (-10 points).

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