Stock market makes 13-month high in intra-day trading

Stock market makes 13-month high in intra-day trading

KARACHI: The Stock market made a new 13-month high of 41,699 points on Monday with the index increased by 782 points during the session, analysts said.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,645 points as against 40,917 points showing an increase of +728 points.

The analysts at Arif Habib Limited said that the index closed near day’s high at 41645 points.

Oil & Gas chain remained in the limelight, particularly OGDC and PPL, which traded near and at upper circuits respectively.

O&GMCs traded the most today with 86.7 million shares, mainly contributed by HASCOLR shares totaling 53.3 million. This was followed by Banks (44.2 million) and Cement (32.6 million). Among scrips, UNITY and SSGC followed HASCOLR with 31.4 million and 16.1 million shares respectively.

Sectors contributing to the performance include E&P (+221 points), Banks (+162 points), Cement (+57 points), O&GMCs (+43 points) and Fertilizer (+39 points).

Volumes increased significantly from 270.8 million shares to 357.8 million shares (+32 percent DoD). Average traded value also increased by 20 percent to reach US$ 90.3 million as against US$ 75.3 million.

Stocks that contributed significantly to the volumes include HASCOLR1, UNITY, SSGC, FFL and PIBTL, which formed 37 percent of total volumes.

Stocks that contributed positively include PPL (+97 points), HBL (+79 points), OGDC (+66 points), POL (+41 points) and UBL (+25 points). Stocks that contributed negatively include MCB (-12 points), BAFL (-5 points), EFERT (-5 points), NATF (-4 points), and INDU (-3 points).

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