Share market gains 329 points in mixed trading

Share market gains 329 points in mixed trading

KARACHI: The share market gained 329 points on Thursday owing to mixed trading activities during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,417 points as against previous day’s closing of 43,088 points showing an increase of 329 points.

Analysts at Arif Habib Limited said that last day of the rollover week ended with fanfare adding a total of 544 points during the session and ending +329 points.

On a weekly basis, the Index gained ~450 points after losing around 1200 points in the first two sessions of the week.

Overnight jump in international crude oil prices helped E&P stocks staged decent recovery, however, profit booking kept the stock price increase in check.

Cement sector performed comparatively better on the back of healthy dispatches, which was further aided by consistent buying interest in Banking sector stocks from the local investors.

Among scrips, UNITY led the table with 46.6 million shares, followed by TRG (37.2 million) and MLCF (34.6 million).

Sectors contributing to the performance include Cement (+158 points), Technology (+91 points), Banks (+23 points), Vanaspati (+22 points), Fertilizer (-16 points) and Pharma (-11 points).

Volumes sprung back from 379.9 million shares to 571 million shares (+50 percent DoD). Average traded value also increased by 44 percent to reach US$ 159.1 million as against US$ 110.5 million.

Stocks that contributed significantly to the volumes include UNITY, TRG, MLCF, GGLR1 and ANL, which formed 28 percent of total volumes.

Stocks that contributed positively to the index include TRG (+65 points), LUCK (+65 points), CHCC (+28 points), SYS (+25 points) and UNITY (+22 points). Stocks that contributed negatively include MEBL (-20 points), ENGRO (-10 points), PSO (-7 points), FFC (-6 points) and DAWH (-4 points).