Share market gains 112 points in mixed trading

Share market gains 112 points in mixed trading

KARACHI: The share market gained 112 points on Thursday in mixed trading during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,805 points against 33,693 points showing an increase of 112 points.

Analysts at Arif Habib Limited said that the market made a repeat of yesterday, opening 204 points up, increasing by 304 points in total during the session and closing 112 points.

Fertilizer sector played an important role in posting gains on the index, primarily due to announcement of package for the farmers towards purchase of DAP and Tractors.

Resultantly, FFBL hit upper circuit whereas other Fertilizer sector scrips also went up before facing selling pressure.

Cement, Steel, Banks and E&P sector largely traded range bound. Upward movement in international crude prices even couldn’t excite investors.

Technology sector topped the index with 40.7 million shares, followed by Cement (29.1 million) and Chemical (21.3 million).

Among scrips, TRG realized 20.9 million shares, followed by UNITY (18.6 million) and AGL (14.8 million).

Sectors contributing to the performance include Fertilizer (+80 points), Inv Banks (+31 points), Food (+27 points), Technology (+24 points), E&P (+23 points), Banks (-59 points), Power (-32 points) and Cement (-28 points).

Volumes increased from 219.2 million shares to 240.2 million shares (+10 percent DoD). However, average traded value declined by 25 percent to reach US$ 38.5 million as against US$ 51 million.

Stocks that contributed significantly to the volumes include TRG, UNITY, AGL, FFL and MLCF, which formed 32 percent of total volumes.

Stocks that contributed positively to the index include FFC (+48 points), NESTLE (+26 points), DAWH (+26 points), MTL (+25 points) and OGDC (+18 points). Stocks that contributed negatively include HUBC (-31 points), HBL (-22 points), ABL (-20 points), BAHL (-10 points), and LUCK (-10 points).