KARACHI: The share market gained 979 points on Monday owing to positive sentiments prevailed on stable political front.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,767 points as against last Friday’s closing 43,788 points showing an increase of 979 points.
Analysts at Arif Habib Limited said that the market opened on a positive note today and added a total of 1051 points, similar to the performance witnessed on Friday.
Leveraged positions have come off lately, whereby leverage in MTS, MFS and Futures stood Rs. 45 billion on March 8th, and by the end of the week declined to Rs. 35 billion.
The Govt’s win of Senate chairmanship also helped investors make view on index. Buying was witnessed across the board, with Cement and Steel sectors contributing the most to the Index.
Among scrips, TRG led the volumes with 24.8 million shares, followed by UNITY (23.6 million) and FCCL (21.1 million).
Sectors contributing to the performance include Cement (+170 points), Technology (+152 points), O&GMCs (+100 points), Banks (+92 points) and Power (+79 points).
Volumes increased from 442.5 million shares to 455.6 million shares (+3 percent DoD). Average traded value also increased by 2 percent to reach US$ 139.9 million as against US$ 137.5 million.
Stocks that contributed significantly to the volumes include TRG, UNITY, FCCL, BYCO and KEL, which formed 24 percent of total volumes.
Stocks that contributed positively to the index include TRG (+97 points), PSO (+71 points), LUCK (+58 points), SYS (+54 points) and HUBC (+47 points). Stocks that contributed negatively include ENGRO (-12 points), MCB (-5 points), PKGS (-4 points), MUREB (-4 points) and HGFA (-4 points).
