KSE-100 index gains 512 points on positive trading

KSE-100 index gains 512 points on positive trading

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 512 points on Monday as market remained positive during the day.

The index closed at 48,112 points as against previous closing on Friday at 47,600 points, showing an increase of 512 points.

Analysts at Arif Habib Limited said that the market traded in the positive zone throughout the session, adding a total of 545 points during the session and closing near the session’s high with net 512 points.

E&P sector, which was a laggard in the past year or so and particularly in the past month or so, performed well on the back of an increase of +3 per cent in international crude oil prices today.

Besides, O&GMCs saw PSO sprinting due to its financial results, which were scheduled to be announced, but could not by sessions end. Besides, Technology stocks ramped up taking cue from Series B fund raising of Airlift that helped improve valuation multiples of listed entities in Tech space. Among scrips, HUMNL topped the volumes with 35.4 million shares, followed by BOP (22.2 million) and GGL (19.8 million).

Sectors contributing to the performance include Banks (+167 points), E&P (+143 points), Fertilizer (+41 points), Misc (+36 points) and O&GMCs (+34 points).

Volumes increased from 299.1 million shares to 396.2 million shares (+33 per cent DoD). Average traded value also increased by 13 per cent to reach US$ 89.9 million as against US$ 79.5 million.

Stocks that contributed significantly to the volumes include HUMNL, BOP, GGL, TPLP and ANL, which formed 27 per cent of total volumes.

Stocks that contributed positively to the index include MEBL (+94 points), PPL (+58 points), OGDC (+46 points), ENGRO (+42 points) and PSEL (+35 points). Stocks that contributed negatively include HUBC (-21 points), COLG (-10 points), MLCF (-9 points), EFERT (-7 points) and FCCL (-4 points).

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