KARACHI: The share market bounced back on Thursday and gained 204 points amid buying activities during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,920 points as against previous day’s closing of 46,717 points.
Analysts at Arif Habib Limited said that after posting consecutive losses in the past 2 sessions, the index bounced back and put a recovery of 242 points during the session, closing +204 points.
Besides the rebound in Technology sector, E&P stocks posted gains. Cement and O&GMCs remained under selling pressure, whereas nominal gains were witnessed in Steel, Chemical and Banking sector stocks.
Sentiment at the bourse improved after PKR started recovering against USD and posted partial gains in the Interbank market after supposed SBP intervention.
Among scrips, SERFR posted top volumes with 61.6 million shares, followed by WTL (44.8 million) and TRG (32.3 million).
Sectors contributing to the performance include Technology (+90 points), E&P (+49 points), Banks (+42 points), Textile (+29 points) and Vanaspati (+20 points).
Volumes increased from 332.8 million shares to 405.2 million shares (+22 per cent DoD). Average traded value also increased from US$ 68 million to reach US$ 98.2 million (+44 per cent DoD).
Stocks that contributed significantly to the volumes include SERFR, WTL, TRG, UNITY and TELE, which formed 45 per cent of total volumes.
Stocks that contributed positively to the index include TRG (+101 points), OGDC (+25 points), PPL (+23 points), UNITY (+20 points) and FABL (+17 points). Stocks that contributed negatively include AGP (-11 points), MEBL (-9 points), LUCK (-7 points), SYS (-7 points) and MTL (-7 points).
