PSX adds 531 points over rupee gains

• The Pakistan stock market closed higher after witnessing a bullish session throughout the day.
• The benchmark KSE-100 Index settled at 41,151 level.
• The market opened in a positive zone as the rupee made a sharp recovery.

KARACHI: The Pakistan stock market closed higher after witnessing a bullish session throughout the day on Monday, as the global commodities prices witnessed a significant decline, besides a recovery in the value of the rupee.

An analyst at Topline Securities said the Pakistan equities closed in the green zone, where the benchmark KSE-100 Index settled at 41,151 level.

“The trading session kicked off on a positive note over declining international commodities prices and strengthening rupee against the dollar which led the market to remain in a positive zone,” he added.

The Pakistan Stock Exchange KSE-100 shares Index gained 531.33 points, or 1.31 per cent to close at 41,151.54 points. The KSE-30 shares Index gained 206.94 points, or 1.36 per cent, to close at 15,419.88 points.

An analyst at Arif Habib Limited said the bulls dominated the market throughout the day.

The market opened in a positive zone as the rupee made a sharp recovery against the dollar in the interbank foreign exchange market, he added.

“The investors gained confidence over the clarity on the political ground as the volumes climbed significantly in the main board, while hefty volumes were witnessed in the third tier stocks,” he remarked.

As many as 326 scrips were active of which 224 advanced, 79 declined and 23 remained unchanged.

The ready market volumes stood at 213.02 million shares, compared with the turnover of 165.29 million shares in the last trading session.

The companies which reflected the highest gains included Premium Textile up Rs55.89 to close at Rs854.89/share, and Pak Tobacco up Rs55 to close at Rs845/share.

The companies which reflected the most losses included Nestle Pakistan down Rs105 to close at Rs5,600/share, and Sapphire Textile down Rs69.26 to close at Rs1,104.74/share.

The highest volumes were witnessed in TRG Pakistan with a turnover of 27.47 million shares. The scrip gained R8.60 to close at Rs126.65/share, followed by Cnergyico PK with a turnover of 17.36 million shares. It gained 15 paisas to close at Rs4.93/share.

Unity Foods remained the third with a turnover of 15.40 million shares. It gained Rs1.26 to finish at Rs23.06/share.

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