KARACHI: The stock market gained 603 points on Thursday owing to positive sentiments prevailed over status of Pakistan in FATF grey list.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,965 points as against previous day’s closing of 45,362 points showing an increase of 603 points.
Analysts at Arif Habib Limited said that the market took the cue from UBL’s financial results (with a declaration of Rs. 9.5/share dividend), which were announced in the pre-open session and added a total of 642 points during the session.
Besides, anticipation of FATF’s decision on Pakistan status on grey list helped the index move up.
Sentiment remained buoyed throughout the session and price gains were observed across the board. Among scrips, TELE led the table with 35.8 million shares, followed by BYCO (34.5 million) and UNITY (33 million).
Sectors contributing to the performance include Banks (+160 points), Cement (+145 points), Technology (+95 points), Fertilizer (+42 points) and Power (+41 points).
Volumes declined from 557.5 million shares to 469.0 million shares (-16 percent DoD). Average traded value also dipped 12 percent to reach US$ 146.8 million as against US$ 16.6 million.
Stocks that contributed significantly to the volumes include TELE, BYCO, UNITY, KEL and TRG, which formed 35 percent of total volumes.
Stocks that contributed positively to the index include TRG (+96 points), LUCK (+87 points), UBL (+57 points), HBL (+50 points) and ENGRO (+27 points). Stocks that contributed negatively include MCB (-10 points), DAWH (-8 points), NML (-6 points), EFUG (-6 points) and PMPK (-5 points).
