PSX ends dull trading session on positive note

KARACHI: Pakistan Stock Exchange (PSX) witnessed a dull session on Monday that ended marginally positive. The indices traded within a narrow range throughout the day while volumes declined from last session.

The benchmark KSE 100 index recorded its day’s high of 34,062.14 after gaining 130.91 points. In an early morning dip, it recorded its intraday low of 33,820.09 after losing 111.14 points. It settled with a gain of +90.74 points at 34,021.97.

The lower bench KSE 30 saw a gain of 112.54 points (0.76) and closed at 14,855.65 points.The KMI 30 index witnessed an increase of 58.40 points closing at 55,230.07, while the KSE All-Share index closed flat by 31.08 points at 24,466.26.

Out of total shares traded 113 advanced and 190 declined. The overall volumes were recorded at 198.09 million.

Pak Elektron (PAEL +4.73%), Unity Foods (UNITY +1.64%) and Fauji Foods (FFL +3.43%) were leaders of the score board. The scripts had 22.74 million shares, 14.23 million shares and 11.38 million shares traded, respectively.

The sectors adding gains to the KSE 100 index included Banking sector (+169.29 points), Oil and Gas Exploration sector (+51.54 points) and Pharmaceutical sector (+6.15 points).

Company-wise, MCB Bank (MCB +56.20 points), United Bank (UBL +37.14 points) and Oil and Gas Development Company Limited (OGDC +34.77 points) were top points contributors. The banking sector gained 1.76% in its cumulative market capitalization.

On the economic front, CPI Inflation was recorded at 8.2% in May 2020 as compared to an increase of 8.5% in the previous month and 8.4% in May 2019. On a month-on-month basis, it increased by 0.3% in May 2020 as compared to a decrease of 0.8% in the previous month and an increase of 0.6% in May 2019.