KARACHI: The stock market on Wednesday added 362 points after carrying the momentum shown in the past couple of sessions.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,027 points as against 41,665 points showing an increase of 362 points.
Analysts at Arif Habib Limited said that the market carried the momentum shown in the past couple of sessions and finally crossed the 42,000 index level.
Cement sector led the Index on the back of an increase in Cement price / bag in North Region, which coincided with brisk buying activity in small and mid-caps in Autos, Chemical, Steel, Refinery and Miscellaneous sectors that pulled the index with 409 points. The Index closed the session +362 points.
International crude oil prices also started recovering on the news of UK announcing expeditious delivery of vaccine. Among scrips, UNITY topped the volumes with 39.7 million shares, followed by TRG (38.5 million) and PRL (34.5 million).
Sectors contributing to the performance include Autos (+75 points), Banks (+57 points), Technology (+38 points), Cement (+34 points) and Power (+31 points).
Volumes declined from 489.6 million shares to 476.9 million shares (-3 percent DoD). Average traded value however, increased by 5 percent to reach US$ 127.2 million as against US$ 121.4 million.
Stocks that contributed significantly to the volumes include UNITY, TRG, PRL, MLCF and HUMNL, which formed 36 percent of total volumes.
Stocks that contributed positively to the index include BAHL (+42 points), TRG (+41 points), MTL (+40 points), HUBC (+24 points) and LUCK (+23 points). Stocks that contributed negatively include PPL (-14 points), PKGS (-5 points), HBL (-4 points), EFUG (-3 points) and KTML (-3 points).
