KARACHI: On Wednesday, Pakistan Stock Exchange (PSX) slightly went up by 180.76 points today following the positive sentiments from the government
The Karachi Share Index (KSE-100) gained by 180.76 points (0.42 per cent) after closing at 43,087.70 points against the previous closing of 42,906.94 points. The market went up 43,214.37 points during intra-day trading, while recorded as low as 42,853.23 points.
Trading volume decreased to 378.93 million shares today as compared to 561.85 million traded in the previous session, according to PSX website data. The daily traded value decreased to Rs 17.734 billion from Rs 22.634 billion in the previous session, the data said.
According to the AKD Securities, there was little participation of the investors today compared to previous session, but was selling pressure in the market to gain profits on their investments.
The investors were reluctant or unhappy with the decision of the PSX on purchasing National Clearing Company Pakistan Ltd (NCCPL) shares as Chinese’ directors and local brokers are still running the affairs of the stock market, the analyst claimed.
The analysts said that the positive economic data is supporting the market while spreading coronavirus and international oil prices are dragging the stocks prices down in Pakistan.
Besides cement, investors opted for Banks (HBL), O&GMCs (PSO), E&P (OGDC & PPL) and Engineering / Steel (ISL, INIL) that helped stage recovery in index. Rollover week will end tomorrow, however, the pertinent scrips (UNITY, TRG and NETSOL) have largely covered ground to cause any concern. Among scrips, PRL topped the volumes with 26.9M shares, followed by MLCF (17.7M) and TRG (16.2M).
Sectors contributing to the performance include Cement (+81pts), Autos (+19pts), Engineering (+18pts), Banks (+17pts) and Insurance (+17pts).
Stocks that contributed positively to the index include MLCF (+21pts), HBL (+20pts), LUCK (+18pts), ENGRO (+18pts) and CHCC (+13pts). Stocks that contributed negatively include MARI (-17pts), KTML (-10pts), POL (-10pts), FFC (-10pts) and MEBL (-9pts).
During the day, Gillette Pakistan gained Rs 39.29 to close at Rs 563.25 while Premier Sugar share price went up by Rs 29 to close at Rs 449.00. Meanwhile Sapphire Textile lost Rs 76.30 to close at Rs 968.02 and Nestle Pakistan further lost Rs 62.50 to close at Rs 6637.50.