Business

Pakistan Stock on recovery

Karachi, March 4, 2019: Pakistan Stock Exchange (PSX) is seems to have taken the path to complete recovery as the concerns of India-Pakistan confrontation is apparently put to rest by the investors, and participation in stock market is also picking pace.

On Monday, highlight was BOP’s financial result announcement that declared dividend in addition to high EPS, in comparison with corresponding figures. Total traded volume in BOP was 90.8 million (54 percent of total market volume), while the scrip hit upper circuit.

Overall, the banking sector garnered 102 million shares, followed by Technology and Engineering (Steel) Sectors. Post BOP’s result announcement, investors took positive bets in other scrips, such as SSGC, SNGP, NETSOL etc.  

The Index closed at 39,750 points on Monday as against 39,539 points on Friday showing an increase of 211 points (+0.5 percent DoD). Sectors contributing to the performance include Banks (+118 points), Fertilizer (+58 points), O&GMCs (+44 points), Power (+26 points), Insurance (+19 points), E&P (-25 points).

Volumes increased from 137 million shares to 168 million shares (+23 percent DoD). However, average traded value declined by 21 percent to reach $ 42 million as against $ 53 million.

Stocks that contributed significantly to the volumes include BOP, TRG, PAEL, PIBTL and ISL, which formed 62% of total volumes.

Stocks that contributed positively include HBL (+54pts), UBL (+28pts), BOP (+24pts), PSO (+21pts), and EFERT (+18pts). Stocks that contributed negatively include PPL (-26pts), MCB (-18pts), SEARL (-14pts), HMB (-7pts) and MARI (-7pts).

 

 

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