KARACHI: The share market gained 159 points on Friday despite lackluster response from the investors during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,207 points as against 42,048 points showing an increase of 159 points.
Analysts at Arif Habib Limited said that the market traded range bound today, although remained positive the entire session, but lacked the excitement from Investors’ end to make a forward move.
International crude oil prices increased after OPEC+ made the decision for a gradual increase in output in 2021.
E&P stocks responded cautiously to the price increase. O&GMCs, Cement sector stocks saw selling pressure on the concerns over political uncertainty as well as Index correction after an increase of around 2800 points.
The index went up by 269 points during the session, however, selling pressure in the last half hour brought the index down slightly, closing the session +159 points.
Among scrips, TRG posted 42.6 million shares in trading volumes, followed by PRL (30.9 million) and PTC (21.7 million).
Sectors contributing to the performance include E&P (+61 points), Banks (+57 points), Technology (+31 points), O&GMCs (-16 points) and Fertilizer (-12 points).
Volumes increased slightly from 420.3 million shares to 427.5 million shares (+2 percent DoD). Average traded value also increased by 0.5 percent to reach US$ 113.2 million as against US$ 112.6 million.
Stocks that contributed significantly to the volumes include TRG, PRL, PTC, ASL and KEL, which formed 32 percent of total volumes.
Stocks that contributed positively to the index include OGDC (+38 points), TRG (+26 points), UBL (+15 points), PPL (+12 points) and HMB (+11 points). Stocks that contributed negatively include FFC (-12 points), MTL (-11 points), SNGP (-8 points), PSO (-7 points) and EFERT (-6 points).
