KARACHI: The stock market gained 153 points on Tuesday amid profit taking during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,564 points as against 38,412 points showing an increase of +153 points.
Analysts at Arif Habib Limited said that the market moved up and down during the session.
Initially the index gained +500 points but erased all the gains on profit booking, which took the index -18 points.
Activity picked pace again with index gaining again around +350 points. MoC resulted in selling pressure again, closing the index +153 points.
Key stocks that sustained selling pressure included DGKC, MLCF, FCCL and largely Steel sector, where MUGHAL saw trading at lower circuit.
Among Fertilizer sector, ENGRO made a recent high close to Rs. 345, but faced selling pressure to bring the price to Rs. 338.
Trading volumes registered at 385 million shares, out of which Cement Sector led the table with 53.2 million shares, followed by Banks (40.1 million) and Power (38.5 million).
Among scrips, KEL realized volumes of 27.5 million, followed by BOP (25 million) and DSL (22.3 million).
Sectors contributing to the performance include Power (+103 points), O&GMCs (+63 points), Inv Banks (+37 points), Pharma (+28 points), Tobacco (-34 points) Banks (-31 points) and Fertilizer (-16 points).
Volumes posted a decline from 466.1 million shares to 384.8 million shares (-17 percent DoD). Average trading value also declined by 9 percent to reach US$ 90.4 million as against US$ 99.8 million.
Stocks that contributed significantly to the volumes include KEL, BOP, DSL, SNGP and PAEL, which formed 27 percent of total volumes.
Stocks that contributed positively include HUBC (+94 points), PSO (+33 points), DAWH (+27 points), SNGP (+23 points) and FFC (+14 points).
Stocks that contributed negatively include PAKT (-34 points), ENGRO (-27 points), UBL (-24 points), BAHL (-17 points), and POL (-11 points).
