PSX index gets an increase of 788pts today

· Post foreign selling yesterday and realizing loss of 451pts, KSE100 index rebounded with 806pts today and closed at session’s high (unadjusted). Cement and Steel sector stocks remained buoyant, where investors sounded optimistic on upcoming quarterly results, whereas Tech stocks added to the momentum and hit upper circuit by the end of session. By the end of session, UBL also showed healthy price growth. Buying activity was witnessed across the board but was cautious. Among scrips, GGL topped the volumes with 35.8M shares, followed by TRG (28.6M) and BYCO (26M).

· The Index closed at 44,741pts as against 43,954pts showing an increase of 788pts (+1.8% DoD). Sectors contributing to the performance include Banks (+135pts), Technology (+121pts), Cement (+118pts), Fertilizer (+59pts) and E&P (+55pts).

· Volumes increased from 370.5mn shares to 383mn shares (+3.4% DoD). Average traded value however, declined by 12% to reach US$ 117.5mn as against US$ 133mn.

· Stocks that contributed significantly to the volumes include GGL, TRG, BYCO, LOTCHEM and PRL, which formed 35% of total volumes.

· Stocks that contributed positively to the index include TRG (+111pts), LUCK (+50pts), DAWH (+43pts), ENGRO (+37pts) and HBL (+35pts). Stocks that contributed negatively include ABOT (-4pts), INDU (-4pts), IGIHL (-2pts), SHFA (-1pts) and BYCO (-1pts).

 

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