KARACHI: The share market gained 54 points on Friday, September 3, 2021, amid mixed trading activities during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 46,957 points as against previous day’s closing of 46,903 points, showing an increase of 54 points.
Analysts at Arif Habib Limited said that the market traded in a narrow range today between -24 points and +210 points.
Stocks including banks, oil and gas chain, cement bore selling pressure whereas technology, fertilizer, and sideboard scrips helped post an uptick in the index.
Redemption at Mutual funds’ end kept the pressure on the Index after a net sell of $ 5.5 million yesterday. Among scrips, SERFR posted trading volumes of 83.1 million shares, followed by WTL (50.2 million) and TELE (37.6 million).
Sectors contributing to the performance include Autos (22 points), E&P (-17 points), Technology (+77 points), Power (+13 points) and Fertilizer (+12 points).
Volumes declined from 544.4 million shares to 465 million shares (-15 per cent DoD). The average traded value also declined by 24 per cent to reach US$ 73.3 million as against US$ 96.2 million.
Stocks that contributed significantly to the volumes include SERFR, WTL, TELE, GGL, and BYCO, which formed 49 per cent of total volumes.
Stocks that contributed positively to the index include SYS (+73 points), HUBC (+14 points), MCB (+13 points), ABOT (+10 points) and MEBL (+9 points). Stocks that contributed negatively include HBL (-18 points), PPL (-9 points), MTL (-8 points), INDU (-8 points) and NBP (-6 points).