Stock market gains 219 points amid mixed trading

Stock market gains 219 points amid mixed trading

KARACHI: The stock market gained 219 points on Thursday amid mixed trading activities.

The Index closed at 41,082pts as against 40,863pts showing an increase of 219pts.

Analysts at Arif Habib Limited said that the market added another 414pts during the session and closed the session +219pts. Cement and Banking sector stocks played important role today.

BOP’s financial results brought the stock price down. Refinery sector faced selling pressure that brought ATRL and NRL down after posting respective financial results yesterday.

E&P companies also saw selling pressure however, trading volume remained the same relative to past sessions. Banking sector led the volumes table with 78.2M shares followed by Cement (74.6M) and Technology (59.8M). Among scrips, BOP topped the volumes with 39.7M, followed by TRG (36.9M) and KEL (28.4M).

Sectors contributing to the performance include Technology (+50pts), Cement (+35pts), Power (+34pts), Textile (+31pts) and Chemical (+25pts).

Volumes increased from 508.1mn shares to 544.7mn shares (+7% DoD). Average traded value however declined by 7% to reach US$ 119.1mn as against US$ 128.5mn.

Stocks that contributed significantly to the volumes include BOP, TRG, KEL, ANL and MLCF, which formed 25% of total volumes.

Stocks that contributed positively to the index include TRG (+37pts), HUBC (+30pts), COLG (+27pts), HBL (+17pts) and THALL (+13pts). Stocks that contributed negatively include MCB (-14pts), POL (-12pts), BOP (-10pts), BAFL (-7pts) and SNGP (-6pts).