The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,788 points from previous day’s closing of 42,780 points, showing an increase of 1,008 points.
Analysts at Arif Habib Limited said that post clearance of leveraged positions of Individual investors, market bounced back today with a jump of 1206 points during the session and a net increase of 1008 points at the end of session.
Cement and Steel sectors contributed significantly to the surge in index. Technology stocks, which were the subject of leveraged positions, bounced back from session’s low, however, by the end of session selling commenced back in tech stocks, which brought the index down from session’s high.
Besides, excitement of senate elections also had some bearing on the stock market, where a win on Government’s part was considered to be a source of confidence for the Investors.
Among scrips, UNITY topped the volumes with 88.2 million shares, followed by TRG (38.8 million) and JSCL (17.7 million).
Sectors contributing to the performance include Cement (+223 points), Banks (+151 points), E&P (+90 points), Power (+83 points) and O&GMCs (+70 points).
Volumes increased from 406.1 million shares to 442.4 million shares (+9 percent DoD). Average traded value also increased by 22 percent to reach US$ 137.4 million as against US$ 112.7 million.
Stocks that contributed significantly to the volumes include UNITY, TRG, JSCL, PRL and TELE, which formed 41 percent of total volumes.
Stocks that contributed positively to the index include LUCK (+76 points), HUBC (+61 points), HBL (+46 points), PSO (+43 points) and SYS (+43 points). Stocks that contributed negatively include ANL (-9 points), ENGRO (-6 points), TRG (-4 points), ABOT (-2 points) and SHFA (-2 points).
