KARACHI: The Pakistan Stock Exchange (PSX) continued to head north on Wednesday, with the indices accumulating gains all day long amid positive sentiments.
At close, the benchmark KSE-100 index recorded an increase of 96.82 points, or 0.22%, to settle at 44,587.85 points. Arif Habib Limited, in its report, stated that Pakistan’s launch of Eurobonds to raise funds from the international market was warmly greeted by the PSX.
Sectors contributing to the performance included fertilizer (+24 points), cement (+24 points), exploration and production (+22 points), banks (+19 points), technology (-35 points) and textile (-17 points).
Individually, stocks that contributed positively to the index included Engro (+31 points), UBL (+28 points), Pakistan Oilfields (+20 points), Systems Limited (+20 points) and Services Industries (+17 points).
Stocks that contributed negatively were TRG Pakistan (-52 points), HBL (-30 points), Colgate-Palmolive (-20 points), Hubco (-11 points) and Fauji Fertiliser Company (-10 points).
JS Global analyst Maaz Mulla said a rollercoaster ride continued at the PSX, where the index touched an intra-day high of +642 points. It closed the session at 44,588, up 97 points.
Total traded volume was recorded at 444 million shares where top contributors were Byco Petroleum (-1.6%), Pakistan Refinery (-1.3%), Unity Foods (-0.2%), TRG Pakistan (-3.1%) and Ghani Glass (+7.4%).
Mughal Iron and Steel Industries (+4.7%), International Industries (+2.2%), Aisha Steel Mills (+2.5%), International Steels (+1.5%), Agha Steel Mills (+2.3%), Pak Suzuki Motor Company (+6.7%), Honda Atlas Cars (+2.7%), Indus Motor (-0.7%) and Ghandhara Industries (+3.5%) were the major movers.
Selling pressure was witnessed in refinery and tech stocks, among which Attock Refinery (-1.2%), National Refinery (-0.6%), Pakistan Refinery (-1.3%), NetSol (-7.5%) and TRG Pakistan (-3.1%) shed value.
