PSX gains 131 points in mixed trading sessions

Benchmark index increases 0.4% to settle at 32,715.88



The stock market gained 131 points on Tuesday amid mixed trading activity during the day. The KSE-100 index surged from the moment trading began but selling pressure after the first half hour dragged the index down. The index continued to oscillate between red and green zones in the remaining session. The trend changed later in the day as investors once again resumed buying, which helped the index advance into the green zone

Overall, trading volumes increased to 97.1 million shares compared with Monday’s tally of 44.7 million. The value of shares traded during the day was Rs3.49 billion. Shares of 318 companies were traded. At the end of the day, 178 stocks closed higher, 110 declined and 30 remained unchanged.

Maple Leaf Cement was the volume leader with 13.2 million shares, gaining Rs0.91 to close at Rs20.12. It was followed by Unity Foods with 8.6 million shares, gaining Rs0.06 to close at Rs9.53 and WorldCall Telecom with 7.8 million shares, losing Rs0.02 to close at Rs0.60.

Foreign institutional investors were net buyers of Rs217.6 million worth of shares during the trading session, according to data compiled by the National Clearing Company of Pakistan.

At the end of trading, the benchmark KSE 100-share Index recorded an increase of 131.33 points, or 0.40%, to settle at 32,715.88. By the end of session, cement and steel sector scraps saw better price performance and stocks like DGKC, MLCF, ISL were seen traded at upper circuits.

The market opened on a positive note with +17 points but faced selling pressure that took the index down by 129 points. Prime Minister’s ongoing visit to USA was well received by the media and political analysts, but failed to garner the support as anticipated by stock traders.

Much of this activity is attributed to short covering by investors, which have been selling bearish on these sectors due to anticipation of poor results. Overall volumes reached close to 100 million today, mainly led by Cement Sector with ~24 million shares (contributed by MLCF (13 million)) and followed by Technology (13 million) contributed by WTL’s 8 million.

Sectors contributing to the performance include Cement (+43 points), Fertilizer (+27 points), Banks (+18 points), E&P (+17 points) and Pharma (+16 points). Volumes more than doubled from 44.5mn shares to 96.9 million shares (+117 percent DoD). Average traded value also increased by 75 percent to reach US$ 21.7 million as against US$ 12.4 million.

Stocks that contributed significantly to the volumes include MLCF, UNITY, WTL, FFL and PAEL, which formed 44 percent of total volumes. Stocks that contributed positively include FFC (+26 points), EFERT (+14 points), HBL (+13 points), UBL (+11 points) and FCCL (+10 points).


Stocks that contributed negatively include NESTLE (-16 points), ENGRO (-11 points), HUBC (-7 points), NATF (-6 points) and IGIHL (-6 points).

Comments are closed.

Subscribe to Newsletter