KARACHI: The stock market increased by 492 points on Tuesday owing to buying activities seen during the day.
The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,868 points as against previous day’s closing of 46,376 points showing an increase of 492 points.
Analysts at Arif Habib Limitd said that brisk buying was observed in cement sector for the third day in a row that made major contribution on the points table.
Similar activity was witnessed in steel and technology sectors. Among banks, HBL saw buying in anticipation of annual results scheduled to be announced tomorrow causing the stock to close near session’s high.
Among scrips, HUMNL led the volumes with 55.4 million shares, followed by TELE (55.4 million) and MLCF (36.1 million).
Sectors contributing to the performance include Cement (+158 points), Bans (+129 points), Fertilizer (+58 points), Technology (+54 points) and E&P (+35 points).
Volumes increased from 486.3 million shares to 514.2 million shares (+6 percent DoD). Average traded value also increased by 2 percent to reach US$ 158.9 million as against US$ 155.6 million.
Stocks that contributed significantly to the volumes include HUMNL, TELE, MLCF, TRG and WTL, which formed 38 percent of total volumes.
Stocks that contributed positively to the index include LUCK (+116 points), HBL (+52 points), MCB (+46 points), TRG (+46 points) and ENGRO (+29 points). Stocks that contributed negatively include HUBC (-10 points), POL (-9 points), UBL (-6 points), BAHL (-6 points) and INDU (-5 points).
