PSX ends on upward trend, KSE 100 index gains 299 points

KARACHI: After a disappointing run last week, the Pakistan Stock Exchange (PSX) rallied on Monday and ended the day on a positive note.

The benchmark KSE 100 index witnessed a gain of 298.97 points and closed at 33,737.92 points. The bourse started on a downward trajectory and lost 366.77 points before it began to rebound by mid-day. The indices kept rising as the bourse end intra-day trading on a high. The total volume of shares was 102.107 million valued at Rs4.864 billion.

The lower bench KSE 30 index also ended the day on a positive note after gaining 177.80 points and closing at 14,617.26 points. The total volume of scripts traded at the bourse was 50.345 million.

The KMI 30 index gained 844.17 points and closed at 53,846.22, while the All-Share index appreciation 174.19 and closed at 24,246.41 points.

The most active stock was Unity Foods (UNITY -1.65) which saw a decline in share prices followed by Maple Leaf Cement Factory (MLCF -0.77%). Both traded 11.539 and 8.1686 shares respectively. This was followed by TRG Pakistan (TRG 2.78%), Hascol Petroleum (HASCOL 0.22%) and Hum Network (HUMNL 0.13%).

The total market volume was 159.91 million shares. The highest contributor to the stock market was the fertilizer sector which contributed 130.71 points followed Oil and Gas Exploration sector (+67.52 points) and Power Generation and Distribution sector (+35.34 points).

Company-wise, fertilizer and oil players Engro Corporation Limited (ENGRO +55.82 points), Fauji Fertilizer Company Limited (FFC +42.70 points) and Oil and Gas Development Company Limited (OGDC +32.18 points) added maximum points to the KSE 100 index.

The tobacco sector ended as top gainer with 2.86% increase in its cumulative market capitalization. Philip Morris Pakistan Limited (PMPK +0.27%) and Pakistan Tobacco Company Limited (PAKT +3.72%) both closed in green.

The tobacco industry witnessed the highest of 2.86% in market capitalization.