PSX witnesses modest gains in volatile session

KARACHI: The Pakistan Stock Market (PSX) witnessed ups and lows during the day on the first day of the week (Monday) as market forces sought to regain control of the stock exchange.

The benchmark KSE 100-index touched its intraday high of 40,434.60 then slid to its intraday low of 40,113.29 after a decline of 321 points. The index settled with an appreciation of 61.51 points at 40,184.01 as compared to 40122.50 points on the last working day.

The benchmark KSE-100 index closed at 39,802 points as against 39,622 points showing an increase of 181 points. The market opened on a positive note today and continued the momentum by adding a total of 203 points during the session. The index also saw a drop of 148 points from LDCP, but rebounded by the end of the session.

A similar trend was seen in the KMI 30 index which traded within the range of 63,243.89 and 64,114.67 before it settled at 64,002.61 accumulating 277.84pts. The KSE All Share index increased by 72.25 points and closed at 27,930.89.

A total of 190 shares closed with gains, 119 lower than the previous close while 234 recorded no change. The market volumes contracted by 7.25% compared to the last sessions 400.48mn to 371.31 million. This is below the 5-day average of 410.48 million.

Oil & Gas Exploration Sector (-74.39pts) and Fertilizer sector (-18.91pts) along with minor contributions from 12 other sectors battled to pull the KSE 100 index lower but Cement (+73.11pts) with Technology and Communication Sector (47.15pts) rescued the index.

Major positive contributions came from Lucky Cement Limited (LUCK +38.56pts), TRG Pakistan Limited (TRG +37.99pts) and DAWH (+27.33pts).