MM News TV
Monday 26th July 2021 / 15 Zulhijjah 1442

PSX witnesses bullish trend as market gains 310 points

KARACHI: The Pakistan Stock Exchange (PSX) traded in the green throughout the session, with the benchmark index accumulating over 300 points on Friday.

Reminiscent of the last two sessions, the benchmark KSE-100 Index started collecting gains right from the word go, registering its intraday high at 45,916.33 (+571.79 points). It settled higher by 309.80 points at 45,654.34.

Among other indices, the KMI-30 Index gathered 310.17 points to close at 73,990.13, while the KSE All Share Index added 237.10 points, ending at 31,889.53. The overall market volumes increased from 641.41 million shares in the previous session to 696.40 million shares (+8pc).

Average traded value, however, declined by 15pc, from $159.5 million to $135.1 million. Byco Petroleum Pakistan Ltd (BYCO +6.12pc), Hum Network Ltd (HUMNL +4.55pc) and Pakistan Refinery Ltd (PRL +1.66pc) led the volume chart, exchanging 163.81 million, 44.94 million and 38.01 million shares, respectively.

Sectors that painted the benchmark index green included banking (+158.79 points), textile composite (+24.46 points) and engineering (+24.21 points). Among the companies, United Bank Ltd (UBL +48.38 points), MCB Bank Ltd (MCB +37.12 points) and Oil and Gas Development Company Ltd (OGDC +26.17 points) remained the top contributors.

Adding 1.65pc to its total market capitalization, the banking sector ended as the session’s top performer, with HBL (+0.89pc), MCB (+2.04pc) and UBL (+3.13pc) posting decent gains.

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