KARACHI: The share market witnessed gain of 463 points on Tuesday amid selling pressure seen during the trading.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,204 points as against 40,741 points showing an increase of 463 points.
Analysts at Arif Habib Limited said that settlement ratios from last week’s roll-over activity continued the selling pressure on the bourse, in addition to redemption called by mutual fund investors.
Index lost a total of 351 points earlier in the session, however, as soon as the settlement concluded, heavy buying activity took place in HASCOL, PSO, ENGRO that placed the index to erase all losses and post a net gain of 705 points by the end of session.
The index closed +463 points. O&GMCs topped the volumes with 61.7 million shares, followed by Cement (38.5 million) and Technology (35.2 million).
Among scrips, HASCOL realized trading volumes of 57.5 million, followed by UNITY (47.5 million) and BYCO (28.4 million).
Sectors contributing to the performance incude Banks (+137 points), E&P (+61 points), O&GMCs (+47 points), Cement (+47 points) and Fertilizer (+45 points).
Volumes declined from 407.2 million shares to 353.7 million shares (-13 percent DoD). Average traded value also declined by 3 percent to reach US$ 83.2 million as against US$ 86.1 million.
Stocks that contributed significantly to the volumes include HASCOL, UNITY, KEL, PIBTL and TRG, which formed 36 percent of total volumes.
Stocks that contributed positively to the index include BAHL (+43 points), ENGRO (+38 points), LUCK (+38 points), OGDC (+21 points) and TRG (+21 points). Stocks that contributed negatively include SHFA (-11 points), SYS (-11 points), SEARL (-10 points), KTML (-6 points) and CHCC (-5 points).
