KSE-100 gains 202 points on activities in oil companies

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 202 points on Tuesday.

 

 

Sectors contributing today were E&P, OMCs which had international crude prices in their favour as well as the expectation of discovering large hydrocarbon reserves in Indus offshore, which bodes well for both OGDC and PPL.

The index closed at 39,615 points as against 39,413 points showing an increase of 202 points.

Analysts at Arif Habib Limited said that the market made another healthy move today with an increase of around 300 points and trading mostly in the positive territory.

PPL hit upper circuit in the closing half hour. Besides, Banking sector performed well today.

Cement Sector, however, saw selling pressure due to expectation of an increase in duties in the upcoming mini-budget.

Sectors contributing to the performance include E&P (+158 points), Fertilizer (+98 points), Banks (+26 points), Chemical (-21 points), Pharma (-20 points), Cement (-17 points) and Food (-12 points).

Volumes increased from 115 million shares to 121.5 million shares (+5 percent DoD). Average traded value also increased by 26 percent to reach $49.7 million as against $ 39.5 million.

Stocks that contributed significantly to the volumes include PAEL, BOP, LOTCHEM, KEL and TRG, which formed 43 percent of total volumes.

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