PSX index shows an increase of +341pts today

· Resolution of dispute between the members of ruling party as well as anticipation of tax incentives for the industries in the upcoming budget helped KSE100 index put up a formidable addition of 374pts during the session and ended the session +332pts (unadjusted). Deferral of OGDC and PPL for consideration of privatization resulted in a rebound in stock prices of both stocks. Banks, Cement and Steel sectors also contributed positively to the Index. The incentives proposal for the refinery sector gave way to NRL, ATRL and PRL to post gains. Among volumes leaders, WTL led the table with 99.2M shares, followed by BYCO (67.5M) and HASCOL (48.3M).

· The Index closed at 45,915pts as against 45,574pts showing an increase of +341pts (+0.7% DoD). Sectors contributing to the performance include Banks (+116pts), E& (+68pts), Cement (+31pts), O&GMCs (+29pts) and Autos (+29pts).

· Volumes declined slightly from 784mn shares to 710.4mn shares (-10% DoD). Average traded value also declined by 6% to reach US$ 128.2mn as against US$ 135.7mn.

· Stocks that contributed significantly to the volumes include WTL, BYCO, HASCOL, KEL and SMBL, which formed 41% of total volumes.

· Stocks that contributed positively to the index include HBL (+32pts), PPL (+31pts), OGDC (+28pts), UBL (+25pts) and PSO (+20pts). Stocks that contributed negatively include HASCOL (-8pts), PIBTL (-6pts), COLG (-4pts), TRG (-4pts) and PSX (-4pts).

Courtesy – AHL

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