Economy

PSX market gains 151 points

Karachi, July 06, 2020: Pakistan Stock Exchange (PSX) closed higher on first trading day of the week.

On Monday KSE-100 index of went up 187 points during the session and made a comfortable close above 35200 level.

E&P, OMC, Cement and Pharma sectors performed well. Although profit booking was also observed in Pharma sector. Fertilizer sector bore price loss on the back of profit booking. Among Chemical sector, both LOTCHEM and EPCL performed well with LOTCHEM closing at upper circuit.

Technology sector led the volumes with 66.8M shares, followed by Chemical (48.7M) and Cable (39.2M). Among scrips, TRG did 37.7M shares, followed by PAEL (37.6M) and LOTCHEM (30.8M).

The Index closed at 35,203pts as against 35,051pts showing an increase of 151pts (+0.4% DoD). Sectors contributing to the performance include E&P (+40pts), Cement (+34pts), Pharma (+26pts), O&GMCs (+26pts) and Autos (+18pts).

Volumes increased from 175.7mn shares to 332.2mn shares (+89% DoD). Average traded value also increased by 66% to reach US$ 67mn as against US$ 40.4mn.

Stocks that contributed significantly to the volumes include TRG, PAEL, LOTCHEM, MLCF and JSCL, which formed 40% of total volumes.

Stocks that contributed positively to the index include PPL (+16pts), PSO (+16pts), INDU (+14pts), GLAXO (+10pts) and TRG (+10pts). Stocks that contributed negatively include HUBC (-40pts), DAWH (-34pts), FFC (-18pts), BAFL (-7pts), and PTC (-6pts).

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