Business News

Pakistan Stock Exchange

Stock market gains 200 points amid activity in cement, energy sectors

KARACHI: The stock market gained 200 points on Tuesday owing to enhanced trading activity seen in cement and energy sectors.

The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 46,287 points as against 46,088 points showing an increase of 200 points.

Analysts at Arif Habib Limited said that the market continued the buoyant mood with an increase of 310 points during the session, and ending 200 points.

Cement sector performed well today on the back of an expectation of increase in Cement price / bag.

Similarly, E&P and O&GMCs performed due to an uptick in international crude price as well as a pending decision over revision of OMCs dealer margins, which is expected to be taken in tomorrow’s ECC meeting.

Fertilizer Sector also performed due to recent price hike in DAP prices. Tech stocks continued rallying today, which helped the Index post consistent gains.

Among scrips, JSBL led the volumes with 65.3 million shares, followed by TRG (36.2 million) and FFBL (36 million).  

Sectors contributing to the performance include Cement (+94 points), Technology (+43 points), O&GMCs (+35 points), Chemical (+30 points) and E&P (+22 points).

Volumes increased from 470.1 million shares to 603.2 million shares (+28 percent DoD). Average traded value also increased by 27 percent to reach US$ 166.8 million as against US$ 131 million.

Stocks that contributed significantly to the volumes include JSBL, TRG, FFBL, HASCOL and UNITY, which formed 33 percent of total volumes.

Stocks that contributed positively to the index include TRG (+37 points), PSO (+26 points), PIOC (+22 points), LUCK (+21 points) and POL (+17 points). Stocks that contributed negatively include DAWH (-15 points), AGP (-12 points), UBL (-10 points), FFBL (-9 points) and BAFL (-9 points).