PSX surges as shares volume surpass 500 million

KARACHI: The Pakistan Stock Exchange (PSX) surged on the first day of the week on Monday as the stock market crossed 500 million in shares volume for the first time since December 2019.

The KSE 100 index surged 157.85 points as soon as trading resume and observed an upward and consistent trajectory throughout the day before trading was suspended. The indices gained 317.72 points and closed at 37,650.57 points. The total volume of shares traded at the KSE 100 index increased to 328.098 million as bulls remained in control.

The lower bench KSE 30 index gained 143.39 points and closed at 16,289.22 points. The total volume of scripts was 183.690 million. The KMI 30 index gained 530.75 and closed at 60.795.53, while the All-Share index increased by 144.75 points and closed by 26,885.96 points.

The market leader was Hascol Petroleum (HASCOL -0.57%) which saw a decline in share prices after reporting Rs1.5 billion loss in a week. The oil marketing company traded 32.523 million shares.

This was followed by TRG Pakistan (TRG 5.37%), Maple Leaf Cement Factory (MLCF 1.76%) and Fauji Cement (FCCL 7.49%). The firms traded 27,552 million, 22.997 million, and 20.004 million shares respectively.

The highest contributor to the KSE 100 index was the Power Generation and Distribution sector which contributed points (+72.88 points), followed by Cement sector (+47.85 points) and Oil and Gas Exploration sector (+28.10 points).

Company-wise, Hub Power Company Limited (HUBC +56.09 points), Fauji Cement Company Limited (FCCL +24.54 points) and TRG Pakistan Limited (TRG +19.18 points) were top points contributors. The refinery sector (+5.41%) was top gainer for second consecutive session.