LAHORE
After a miserable performance on Monday, fortunes changed too soon for investors at the Pakistan Stock Exchange (PSX) as the index bounced back following bloodshed in the morning.
The benchmark KSE 100 index opened the day gap down as expected by many analysts and recorded its intraday lowest within half hour of trading. Oil stocks helped the index pull back from losses while the political environment continued to remain uncertain.
The KSE 100 index dropped 337.21 points to 44,328.20 before it jumped up 1,020.62 points to 45,686.03. The index landed up 728.65 points at 45,394.06.
This is a 1.63pc gain to the index which has shed 8.01pc in a month until yesterday’s close. The KMI 30 index appreciated by 2.38pc or 1,831.33 points as the KSE All Share Index surged 444.73 points. The advancer to decliner’s ratio stood at 228 to 131.
The market volumes clocked at 190.11 million, an increase from 156.49 million of the previous session. Engro Polymer and Chemicals Limited (EPCL +0.63pc) led the volume chart with 14.78 million shares exchanged followed by TRG Pakistan Limited (TRG -0.26pc), volume 14.20 million.
The oil and gas exploration topped up its market capitalization by 3.58pc, the top gainer sector, as prices of crude oil in international markets improved. Pak Petroleum Limited (PPL +5.00pc) hit its upper circuit breaker, Oil and Gas Development Company Limited (OGDC) appreciated by 3.32pc after a 15.46pc fall in a week.
The oil and gas marketing companies sector clinched 3.21pc as Hascol Petroleum Limited (HASCOL +5.00pc) hit the upper cap along with Hi-Tech Lubricants Limited (HTL +4.99pc).
Pakistan International Bulk Terminal Limited (PIBTL +4.96pc) jumped as the management informed the exchange about the successful completion of its project. The project related to a terminal for the handling of bulk cargo vessels at Port Qasim. The terminal has commenced commercial operations.
While the KSE 100 index dropped around 8pc during the month a few scripts traded against the trend and recorded gains. Climax Engineering Company Limited (CECL +5.00pc) doubled during this period, 109.23pc gain. Towellers Limited (TOWL -1.10pc) swelled up by 48.21pc and Taha Spinning Mills Limited (THAS +5.00pc) rose by 34.61pc.
