Sunday, May 22, 2022

KSE-100 soars 269 points


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
The benchmark KSE-100 index of Pakistan Stock Exchange (PSE) surged 269 points or (0.67%) closed at 40596 on Tuesday. Market made an upward move with an oscillation of ~370pts (+311pts and -58pts). Profit booking by institutional investors during the past couple of sessions kept the retail investors on edge and selling pressure was witnessed in blue chip scrips other than Cement Sector. Overall, the volumes were led by Textile (ANL), followed by Cement Sector (courtesy of DGKC, MLCF, FCCL, LUCK to name few). Cement was the only notable sector other than that Banks, Autos and OMCs traded mostly in red. E&P sector reversed losses incurred in the past sessions.

The Index closed at 40,596pts as against 40,326pts showing an increase of 270pts (+0.7% DoD). Sectors contributing to the performance include Cement (+112pts), E&P (+108pts), Fertilizer (+58pts), Power (+32pts), Technology (+15pts), Tobacco (-33pts), Autos (-22pts) and Banks (-22pts).

Analysts at Arif Habib Limited said that the volumes increased from 134mn shares to 165mn shares (+23% DoD). Average traded value also increased by 4% to reach US$ 47mn as against US$ 45mn.

Stocks that contributed significantly to the volumes include KEL, UNITY, DGKC, PAEL and MLCF, which formed 25% of total volumes.

Stocks that contributed positively include LUCK (+54pts), OGDC (+50pts), POL (+30pts), FFC (+21pts), and DGKC (+21pts).

Stocks that contributed negatively include HBL (-33pts), PAKT (-33pts), MTL (-15pts), PSMC (-8pts) and BAHL (-7pts).

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