PSX gains eight points in mixed trading activity


Bureau Report
The share market gained eight points on Monday in a mixed trading activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,079 points as against 32,070 points showing an increase of 8 points.
Analysts at Arif Habib Limited said that the first day of the week coincided with last day of September.
Activity in the market on close reflected an increase in prices of blue chip stocks, which must have helped institutions maintaining value of their portfolios. Overall, market went up by 324 points against a later decline towards -141 points.
E&P scrips along with MCB and HUBC managed to keep the index float, however, the price gains in these stocks were not significant.
The 100 Index managed to post decent volumes at 165 million shares as compared to last trading session, most of which came from Power sector (61.6 million) followed by Cement (18.5 million) and Banks (16.3 million). KEL emerged top among volume leaders with 55.4 million shares, followed by BOP (10.8 million) and WTL (9.1 million).
Sectors contributing to the performance include E&P (+42 points), Fertilizer (+14 points), Banks (-26 points), Tobacco (-11 points) and Investment Banks (-11 points).
Volumes increased from 135.2 million shares to 165.2 million shares (+22 percent DoD).
Average traded value, on the contrary, witnessed a decline of -0.8 percent DoD from US$ 27.2 million against US$ 27 million.
Stocks that contributed significantly to the volumes include KEL, BOP, WTL, MLCF and PIBTL, which formed 53 percent of total volumes.
Stocks that contributed positively include PPL (+29 points), POL (+14 points), BAFL (+10 points), EFUG (+7 points) and EFERT (+6 points). Stocks that contributed negatively include HBL (-23 points), LUCK (-16 points), PMPK (-11 points), DAWH (-11 points), and UBL (-8 points).

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