The PSX starts the new year with a gain of 290 points
KARACHI: The Pakistan Stock Exchange (PSX) started the new year on a positive note, with the benchmark KSE-100 remaining positive for the fifth consecutive session and gaining 290.82 points (+ 0.65%) to close at 44,886 , 89 points on Monday.
The market opened on a positive note but quickly dipped and remained in negative territory for the next half hour. However, later on the market remained positive throughout the session. Volumes remained low during the session.
The KSE-100 index traded in a range of 395.78 points, posting an intraday high of 44,905.35 points and a low of 44,509.57 points.
In total, 375 companies traded shares on the stock exchange, of which 217 shares closed, 143 closed while the shares of 15 companies remained unchanged. Of 91 companies listed in the KSE-100 index, 58 closed, 31 closed and two remained unchanged.
Overall market volumes decreased from 122.48 million to 195.17 million shares. Total volumes traded for the KSE-100 index increased by 60.93 million to 92.83 million shares. The total number of transactions decreased from 21,435 to 93,487, while the traded value decreased from 4.31 billion rupees to 6.52 billion rupees. The overall market capitalization increased by 15.69 billion rupees.
Among scripts, PIBTL led volumes with 12.58 million shares, followed by TPLP (11.09 million) and GGL (10.81 million). Inventories that contributed significantly to volumes included PIBTL, TPLP, GGL, FNEL and CNERGY, which accounted for over 28 percent of total volumes.
The main sectors that carried the index north were fertilizers with 58 points, cement with 54 points, technology and communication with 50 points, engineering with 39 points and commercial banking with 33 points. The highest number of points added to the index came from SYS which contributed 33 points, followed by ENGRO with 30 points, LUCK with 27 points, COLG with 22 points and ISL with 18 points.
The main sectors taking the index to the south were tobacco with 23 points, electricity production and distribution with 7 points, food and personal care products with 6 points, refinery with 6 points and textile spinning with 2 points. The largest number of points removed from the index was by PAKT which stripped the index by 23 points followed by KEL with 8 points, CNERGY with 6 points, MUREB with 5 points and PSMC with 4 points.