ISLAMABAD: Positivity returned to the Pakistan Stock Exchange (PSX) after three consecutive days of selling as the benchmark KSE-100 Index gained 1,719.04 points on Thursday.
At close the stock market settled at 113,206.40 points as compared to 111,487.36 points on the last trading day.
Buying interest was recorded in index-heavy sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries.
Key stocks including HUBCO, NRL, PSO, SHEL, SNGP, OGDC, PPL, POL, MARI, MCB, and MEBL traded in the green.
“Major banks will commence announcing their annual results today with Bank Alfalah,” said Intermarket Securities in a note.
“The next key milestone is the International Monetary Fund (IMF) review due at the end of February, which should reinforce the market view on continued macro stability,” it added.
On Thursday a total of 483,939,931 shares were entertained during the day as compared to 449,244,755 shares the last working day, whereas the price of shares stood at Rs26.103 billion against Rs. 28.186 billion on the previous trading day.
As many as 441 companies transacted their shares in the stock market, 272 of them registered gains, and 118 met losses, whereas the share price of 51 companies remained unchanged.
The three top trading companies were Sui South Gas with 48,364,956 shares at Rs 39.11 per share followed by Waves Home Appliances with 33,226,540 shares at Rs.12.78 per share whereas Bank Hakramah settled with 31,509,642 shares at Rs.3.71 per share.
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Unilever Pakistan Foods Limited registered a maximum increase of Rs286.49 per share closing at Rs22,387.00 whereas Rafhan Maize Products Company Limited was the runner-up with Rs 98.05 rise in its share price to close at Rs.9,498.05.
Al-Abbas Sugar Mills Limited witnessed a maximum decline of Rs.35.19 per share price, closing at Rs 679.22, whereas the runner-up was Excide Pakistan Limited with Rs 28.84 drop in its per share price to Rs.781.36.
On Wednesday, the Pakistan Stock Exchange (PSX) saw continued selling pressure, with the benchmark KSE-100 Index dropping for the third consecutive session. It ended the day 543 points lower at 111,487.36, as a result of a lack of positive market catalysts.
Meanwhile, Asian share markets were mixed on Thursday in thin trading, as many countries in the region observed the Lunar New Year holiday. The US dollar remained steady after the Federal Reserve indicated a pause in its policy easing.