The bullish run at the Pakistan Stock Exchange (PSX)
continued unabated as equities rallied to help the index close the week at a
fresh all-time high over 46,000 on across-the-board buying, pushing its
positive streak to the eighth consecutive session. At close, the PSX’s
benchmark KSE 100-share Index finished with a rise of 470.66 points or 1.04% to
finish at 45,857.89 its highest finish yet. Relatively Strong activity witnessed in the market
as turnover settled at 383 million shares as compared to 407 million shares in
the last trading session. Shares of 407 companies were traded; at the end of
the day 146 stocks closed higher, 239 declined, while 22 remained unchanged.
The value of shares traded during the day was at recorded the level of PKR
17.62 billion increased by 53%.
Bulls
remain active in capital market; major activity witnessed in Commercial Banks,
Engineering and Cement sector. In Banking sector UBL and HBL appreciated by
2.01% and 0.5% on reported foreigners interest while BOP drop its value by
4.8%. In cements LUCK and FECTC improved its value by 1.26% and 2.78% on their
intentions to acquire Dewan cement Company; moreover DCL up by 1.57%. The real
action came from Oil & Gas Exploration sector as Oil Prices hit the 17
month high and help the PSX to touch the record hig level of 46,000 level;
OGDC, POL and PPL improved its share price by 4.14%, 5% and 4.90% respectively.
The Oil Marketing sector that tracked global crude with PSO up 1.28%,
SNGP 1.8%, and Shell 4.91% while SSGC drop its value by 1.69% ahead of sudden
gas shortage hit the system of the gas utility.
Active
list was topped by ASL with 30 million shares as it closed at PKR 16.04 with no
change. PIBTL was the second highest on the volume chart with 28 million shares
closed at PKR 34.73 with a positive change of PKR 1.08. It was followed by BOP
with 21 million shares closed at PKR 16.87 with a negative change of PKR 0.77,
OGDC with 15.5 million shares closed at PKR 162.85 with positive change of PKR
6.91.
Today
major trading activities were recorded in Commercial Banks Sector as it was
traded above 62 million shares followed by Transport sector which recorded the
volume of 40 million shares whereas Engineering sparked at 3rd place by trading
above 35 million shares.
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