KARACHI: The stock market gained 109 points on Wednesday in mixed trading activities during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,360 points as against 43,251 points showing an increase of 109 points.
Analysts at Arif Habib Limited said that yesterday’s across the board profit booking saw some respite today with E&P and Fertilizer taking charge of the Index.
International crude oil prices inched up further, which helped price performance in OGDC, PPL and POL.
Similarly, fertilizer stocks also took cue from a recent uptick in Urea offtake.
Cement, Technology, Refinery sector stocks which have led the growth in Index from 39500 level saw consistent profit booking and kept the growth in index in check.
Although the Index added a total of 305 points during the session, the closing half hour brought the index down with ending the trail for Index 109 points. Among scrips, TRG topped the volumes with 29 million shares, followed by PRL (28.1 million) and HASCOL (22.8 million).
Sectors contributing to the performance include E&P (+90 points), Technology (+49 points), Fertilizer (+47 points), Textile (+20 points), Cement (-53 points) and Power (-22 points).
Volumes declined from 702.2 million shares to 433 million shares (-38 percent DoD). Average traded value also declined by 27 percent to reach US$ 133.3 million as against US$ 182.5 million.
Stocks that contributed significantly to the volumes include TRG, PRL, HASCOL, BYCO and ANL, which formed 27 percent of total volumes.
Stocks that contributed positively to the index include OGDC (+55 points), SYS (+46 points), ENGRO (+38 points), PPL (+27 points) and BAHL (+23 points). Stocks that contributed negatively include UBL (-18 points), LUCK (-13 points), DGKC (-12 points), MLCF (-11 points) and MTL (-10 points).
