Bulls maintain control as PSX ends week on positive note

KARACHI: The Pakistan Stock Exchange (PSX) surged for the second consecutive day on Friday and ended the week on a positive trend.
The benchmark KSE 100 index surged by 343.51 points and closed at 37.344.95 points. The indices increased by 142.92 points as trading resumed and continued on an upward trajectory throughout the day.
The bourse increased in the closing hours and end the day a positive note. The total volume of shares was 302.688 million valued at Rs10.616 billion.
The lower bench KSE 30 index nudged by 89.68 points and closed at 16,146.20 points. The total volume of scripts were 123.168 million. The KMI 30 index surged by 375.16 points and closed by 60,263.26 points crossing the 60,000 points level, while the All-Share Index gained 255.75 points and closed at 26,717.66 points.
The market leader was Hascol Petroleum (HASCOL 2.09%) which traded 76.641 million shares. This was followed by Lotte Chemicals (LOTCHEM 6.74%), Unity Foods (UNITY 5.79%) and TRG Pakistan (TRG 1.69%). The firms traded 23.501 million, 21.284 million, and 14.134 million respectively.
Hascol reported a gross loss of Rs 1.85 billion for fiscal year 2019. Distribution Cost surged by 15.24% while other expenses increased from Rs1.09 billionn in FY18 to Rs8.79 bn.
The top contributor to KSE 100 index was the investment banking sector  which contributed to 55.02 points. The total volume of shares was 465.16 million, while refinery sector saw the biggest change with 7.49 percent.
Net outflow of $20.39 million was recorded in equities during the mon of June. T. Bills witnessed an inflow of $9.46 million, while Pakistan Investment Bonds (PIB) received net inflow of $5.06 million during the month of July. A net outflow of $1.78 mn was marked on 15th July.
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