Market extends gains by 141 points for second session

KARACHI: Pakistan Stock Exchange (PSX) remained on an upward slide for the second straight session on Tuesday, with the benchmark KSE-100 Index gaining 141.35 points (+0.29 percent) to close at 48,565.75 points.
The market opened on a positive note but took a brief dive to touch the day’s low within the first 10 minutes’ trading. However, later the market remained in the green territory throughout the session. The Morgan Stanley Capital International (MSCI) integrated 15 stocks into the Frontier Markets Index in the previous session and this trigger kept the market in the green on Tuesday too. Market remained up due to increase in MSCI index participants from Pakistan and increase in weight.
The benchmark index traded in a range of 501.1 points showing an intraday high of 48,794.12 points and an intraday low of 48,293.02 points. Among other indices, the KSE All Share Index gained 87.10 points (+0.27 percent) to close at 32,224.93 points, while KMI All Share Islamic Index gained 57.65 points (+0.25 percent) to close at 23,483.98 points.
Total volumes traded for the KSE-100 Index decreased by 118.35 million shares to 123.70 million shares against 242.05 million shares traded a session earlier. Similarly, the overall market volumes decreased by 116.65 million shares to 251.69 million shares against 368.34 million shares traded a session earlier.
Among scrips, KEL topped the volumes with 32.22 million shares, followed by WTL (26.24 million) and DFML (16.93 million). Stocks that contributed significantly to the volumes included KEL, WTL, DFML, PPL and OGDC, which formed over 40 percent of total volumes.
A total of 338 companies traded shares in the stock exchange against 330 a session earlier, out of which shares of 159 closed up, shares of 154 closed down while shares of 25 companies remained unchanged. A total of 97 companies traded shares in the KSE-100 Index against 96 a session earlier, out of which share price of 47 companies closed up, 48 closed down and two remained unchanged.
The number of total trades decreased by 19,513 to 123,430 against 142,943 trades in the previous session, while the value traded decreased by Rs8.02 billion to Rs9.04 billion as compared to the previous session.
In terms of rupee, NESTLE remained the top gainer and witnessed an increase of Rs118 (+1.64 percent) per share, closing at Rs7,299. The runner-up remained AABS, the share price of which climbed up by Rs33.7 (+7.49 percent) to Rs483.8. SAPT remained the top loser in terms of rupee and witnessed a decrease of Rs27.45 (-2.55 percent) per share, closing at Rs1,050.11, followed by COLG, the share price of which fell by Rs11.75 (-0.86 percent) to close at Rs1,355.75 per share.
The sectors taking the index towards north were technology & communication (119 points), fertilizer (47 points), power generation & distribution (18 points), automobile assembler (10 points), and textile composite (7 points). The major companies adding points to the index remained SYS (103 points), FFC (26 points), LUCK and PPL (23 points each), and KEL (16 points).
The sectors taking the index towards south were commercial banks (30 points), chemical (17 points), investment banks/ investment companies/ securities companies (11 points), oil & gas exploration companies (6 points), and paper & board (5 points). The major companies depriving the index of points remained OGDC (40 points), MCB (27 points), DAWH and LOTCHEM (11 points each), and COLG (8 points). – TLTP