MM News

KARACHI: The Pakistan Stock Exchange (PSX) today (Monday) witnessed a bullish trend with the benchmark KSE-100 index gained over 550 points amid improved investor sentiment.

The benchmark KSE-100 Index remained in the green throughout the day, registering its intraday high at 46,507.42 after gaining 699.06 points. It settled higher by 567.23 points at 46,375.59.

Among other indices, the KMI-30 Index surged 1,222.85 points to close at 76,693.62, while the KSE All Share Index added 339.11 points, ending at 31,891.80.

The overall market volumes inched up from 442.55 million shares on Friday to 486.23 million shares (+10pc). Average traded value also increased by 19pc, from $131.2 million to $155.9 million.

Worldcall Telecom (WTL +10.07pc), Maple Leaf Cement Factory Ltd (MLCF +4.18pc) and Telecard Ltd (TELE +17.76pc) led the volume chart, exchanging 40.30 million, 35.65 million and 28.70 million shares, respectively.

Sectors that painted the benchmark index green included oil & gas exploration (+117.19 points), technology & communication (+77.08 points) and cement (+66.93 points).

Adding 2.46pc to its total market capitalization, the oil & gas exploration sector ended the session’s top performer, with OGDC (+3.40pc), Pakistan Oilfields Ltd (POL +2.15pc), Pak Petroleum Ltd (PPL +2.17pc) and Mari Petroleum Company Ltd (MARI +0.80pc) posting decent gains.

Global equity markets also showed a positive trend, whereas crude oil prices moved north from the previous close; WTI crude price rising 1.92pc to $60.61 while Brent crude price appreciating 1.35pc to $63.27 (as at 3:53pm PST).