KARACHI: The stock market gained 137 points on Wednesday in a range bound trading activity during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,544 points as against Monday’s closing of 45,407 points showing an increase of 137 points.
Analysts at Arif Habib Limited said that the market traded range bound today, oscillating between -148 points and +186 points, closing the session +137 points.
E&P sector led the Index the other day remained negative throughout the session on the back of an overnight decline in international crude oil prices by around 7 percent.
Refinery, Tech and Chemical sectors on the other hand, performed well today with TRG, PTC hitting upper circuits. Banking sector stocks also remained muted but positive throughout the session.
O&GMCs saw PSO bouncing back by the end of session, which otherwise traded below LDCP good part of the session. Among scrips, TRG topped the volumes with 54.5 million shares, followed by PTC (37.1 million) and BYCO (29.2 million).
Sectors contributing to the performance include Tech (+123 points), Autos (+29 points), Chemical (+27 points), Cement (+25 points), Banks (+19 points), E&P (-73 points), Fertilizer (-20 points) and O&GMCs (-17 points).
Volumes declined from 440.9 million shares to 409.7 million shares (-7 percent DoD). Average traded value increased by 15 percent DoD to reach US$ 165 million as against US$ 142.1 million.
Stocks that contributed significantly to the volumes include TRG, PTC, BYCO, HASCOL and ANL, which formed 41 percent of total volumes.
Stocks that contributed positively to the index include TRG (+119 points), MTL (+16 points), ATRL (+15 points), PTC (+14 points) and HUBC (+13 points). Stocks that contributed negatively include OGDC (-46 points), ENGRO (-29 points), POL (-14 points), PPL (-13 points) and SYS (-9 points).
