Stock market extends gains by reaching 46,417 points

KARACHI: The Pakistan Stock Exchange (PSX) extended gains for the fourth consecutive session on Tuesday and the benchmark KSE-100 Index gained 362.53 points (+0.79 percent) to close at 46,417.34 points.
The market opened on a positive note and remained positive throughout the session. The benchmark index traded in a range of 521.24 points showing an intraday high of 46,540.87 points and an intraday low of 46,019.63 points.
Among other indices, the KSE All Share Index gained 206.46 points (+0.66 percent) to close at 31,054.07 points, while KMI All Share Islamic Index gained 126.63 points (+0.56 percent) to close at 22,624.48 points.
Total volumes traded for the KSE-100 Index decreased by 11.21 million shares to 142.84 million shares against 154.05 shares traded a session earlier. The overall market volumes increased by 20.81 million shares to 319.89 million shares against 299.08 million shares traded a session earlier.
Among scrips, WTL topped the volumes with 41.97 million shares, followed by FFL (26.06 million) and KEL (15.65 million). Stocks that contributed significantly to the volumes included WTL, FFL, KEL, OGDC, and HBL, which formed over 34 percent of total volumes.
A total of 345 companies traded shares in the stock exchange against 332 a session earlier, out of which shares of 196 closed up, shares of 124 closed down while shares of 25 companies remained unchanged. A total of 96 companies traded shares in the KSE-100 Index against 92 companies a session earlier, out of which share price of 59 companies closed up, 33 closed down and four remained unchanged.
The number of total trades increased by 13,570 to 137,572 against 124,002 trades in the previous session, while the value traded increased by Rs2.12 billion to Rs10.26 billion.
In terms of rupee, UPFL remained the top gainer and witnessed an increase of Rs350 (+1.56 percent) per share, closing at Rs22,800. The runner-up remained AABS, the share price of which climbed up by Rs35.4(+7.37 percent) to Rs516. SFL remained the top loser in terms of rupee and witnessed a decrease of Rs71(-5.48 percent) per share, closing at Rs1,224, followed by JDWS, the share price of which fell by Rs29 (-7.11 percent) to close at Rs379 per share.
The sectors taking the index towards north were commercial banks (197 points), oil & gas exploration companies (64 points), fertilizer (32 points), technology & communication (20 points), and chemicals (12 points). The major companies adding points to the index remained HBL (111 points), OGDC (36 points), BAHL (24 points), MCB (19 points), and HMB (16 points).
The sectors taking the index towards south were investment banks/investment companies/securities companies (14 points), sugar & allied industries (5 points), automobile parts & accessories (4 points), glass & ceramics (4 points), and engineering (3 points). The major companies depriving the index of points remained DAWH (18 points), JDWS (5 points), THALL (4 points), SEARL (4 points), and GHGL (3 points). – TLTP