KARACHI: The stock market gained 336 points on Friday owing to investor sentiments after improved GDP growth forecast. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 47,126 points as against previous day’s closing of 46,791 points, showing an increase of 336 points.
Market showed consistent performance today with a further increase of 456 points and closing the session +356 points. E&P, O&GMCs, Banks and Fertilizer sector stocks well today even after major sell-off of E&P sector stocks yesterday in MSCI rebalancing. Cement and Steel sector stocks didn’t contribute much to the index today.
Macro news flow on Pakistan’s green bond as well as improved real GDP estimates helped lifting investor sentiment, which was further supplemented by inching up of international crude oil prices.
Among scrips, WTL realized trading volumes of 380.4 million shares, followed by SILK (56.3 million) and BYCO (38.7 million).
Sectors contributing to the performance include Banks (+98 points), E&P (+96 points), O&GMCs (+53 points), Fertilizer (+39 points) and Autos (+22 points).
Volumes declined from 2,220 million shares to 959.9 million shares (-57 percent DoD). Average traded value also declined by 47 percent to reach US$ 148.0 million as against US$ 277.4 million.
Stocks that contributed significantly to the volumes include WTL, SILK, BBYCO, HUMNL and NRSL, which formed 56 percent of total volumes.
Stocks that contributed positively to the index include BAHL (+47 points), SYS (+46 points), PPL (+46 points), HBL (+39 points) and OGDC (+35 points). Stocks that contributed negatively include TRG (-48 points), AICL (-11 points), DGKC (-8 points), COLG (-7 points) and SEARL (-5 points).
