Share market gains 171 points in mixed trading activity

KARACHI: The share market gained 171 points on Tuesday in a mixed trading activity during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,373 points as against 35,203 points showing an increase of 171 points.

Analysts at Arif Habib Limited said that the market continued ascent today with the benchmark index posting gains of 270 points during the session and closed +171 points.

E&P, OMCs, Cement and Banking sector remained in the limelight. Banking sector has lately seen improvement of investor sentiment. Refinery and Chemical sector stocks saw profit booking after yesterday’s performance.

Cement sector has also seen traction on the back of improved dispatches as well as better outlook on construction of hydel power and CPEC projects. Cement sector led the volumes with 46.7 million shares, followed by Technology (38.6 million) and Cable (36.4 million). Among scrips, PAEL topped with 32.9 million shares, followed by HASCOL (31.5 million) and LOTCHEM (24.1 million).

Sectors contributing to the performance include Banks (+61 points), Autos (+43 points), Cement (+41 points), Pharma (+25 points), E&P (+15 points), Power (-24 points), and Fertilizer (-17 points).

Volumes posted a slight increase of 0.4 percent DoD to reach 333.9 million as against 32.2 million. Average traded value, however, increased by 9 percent to reach US$ 73.2 million as against US$ 66.9 million.

Stocks that contributed significantly to the volumes include PAEL, HASCOL, LOTCHEM, PIBTL and MLCF, which formed 40 percent of total volumes.

Stocks that contributed positively to the index include INDU (+23 points), BAFL (+20 points), UBL (+15 points), HINOON (+12 points) and AICL (+11 points). Stocks that contributed negatively include HUBC (-24 points), ENGRO (-16 points), NESTLE (-10 points), TRG (-10 points), and EFERT (-7 points).

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