PSX continues to rise : AHL

  • Post author:
  • Post category:Uncategorized
  • Reading time:2 mins read

The Market opened on a positive note today with +135pts and in total added 791pts to the Index. Banks, E&P, OMCs, Cement and Fertilizer stocks helped the index stage recovery from selling that was observed in the past couple of sessions. The real head turner today happened to be HUBC and KAPCO, of which both hit upper circuit on anticipation of resolution of issues with GOP, as indicated by Advisor to PM on Finance. International crude oil prices remained on the upside, which made E&P stocks post price gains. Increase in fertilizer prices also contributed to buying activity in Fertilizer sector. Among O&GMCs, SSGC and HASCOL hit upper circuits. O&GMCs posted the most volume with 94.6M shares, followed by Cement (75.1M) and Power (72.4M). Among scrips, HASCOL topped the volumes with 65.4M, followed by KEL (36M) and TRG (31.2M).

· The Index closed at 40,559pts as against 39,915pts showing an increase of 644pts (+1.6% DoD). Sectors contributing to the performance include Power (+166pts), E&P (+147pts), Banks (+107pts), Cement (+81pts) and O&GMCs (+64pts).

· Volumes increased from 576.5mn shares to 600.0mn shares (+4% DoD). Average traded value however, increased by 42% to reach US$ 147.7mn as against US$ 104.1mn.

· Stocks that contributed significantly to the volumes include HASCOL, KEL, TRG, UNITYR2 and UNITY, which formed 31% of total volumes.

· Stocks that contributed positively to the index include HUBC (+128pts), PPL (+81pts), UBL (+45pts), LUCK (+43pts) and OGDC (+39pts). Stocks that contributed negatively include TRG (-18pts), BAHL (-15pts), MTL (-10pts), INDU (-9pts) and HCAR (-6pts).

Sharing is caring

Leave a Reply