ISLAMABAD, Feb. 13 (Xinhua) — The Pakistan Stock Exchange (PSX) continued the bullish run for the sixth straight day on Monday but profit-taking at intraday peak cut majority of the gains toward the end.
The Pakistan Stock Exchange’s benchmark KSE 100-Index gained 0.08 percent or 40.55 points to 49,965.63 points on Monday when compared with 49,925.08 points recorded on Friday. During the six-day bullish streak, the main index has accumulated 409.80 points.
The KSE All-Share Index inched up by 0.04 percent or 12.06 points to 33,744.45 points, the KSE 30-Index increased by 0.3 percent or 81.02 points to 27,031.65 points, the KMI 30-Index elevated by 0.28 percent or 244.16 points to 86,198.91 points, whereas the Islamic All-Share Index bucked the overall bullish trend with a decline of 0.07 percent or 17.75 points to 23,694.22 points.
During Monday’s trading session, the main index moved in a broader range of 487.23 points as it touched an intraday high of 50,322.55 points points as against an intraday low of 49,835.32 points.
Interest was seen in the banking sector which concentrated towards United Bank Limited and Habib Bank Limited after a foreign broker issued a report stating the State Bank of Pakistan could lift rates in the second half of the Financial Year 2017.
Steel sector saw a sharp decline due to unconfirmed reports that steel importers taking a stay order on the recently imposed anti-dumping duty on cold rolled coils. Aisha Steel Mills Limited, Inter Steel Limited, and International Industries Limited declined by 5 percent each.
The news that Pakistani government was planning to import liquefied natural gas through second gas pipeline led Sui Northern Gas Pipelines Limited to close at its upper limit of 5 percent.
Market volumes improved by 2.12 percent or 7.531 million shares to 362.407 million shares on Monday when compared with a trading of 354.875 million shares posted on Friday.
Market capitalization reduced by 0.04 percent or 3.671 billion rupees (34.154 million U.S. dollars) to 9.877 billion rupees whereas trade value expanded by 8.32 percent or 1.446 billion rupees to 18.834 billion rupees.
Among 434 active scrips on Monday, the prices of 248 issues descended, 177 ascended, whereas values of nine other companies stayed unchanged.
Dost Steels Limited, Aisha Steel Mills Limited, and Karachi Electric Limited were the top traded companies with turnovers of 32.082 million shares, 29.573 million shares, and 20.823 million shares, respectively.
Wyeth Pakistan Limited was the top price gainer with an increment of 37.49 rupees to close at 4,469.99 rupees while on the other hand, Hinopak Motor led the major price shedders with a decrement of 73 rupees to finish at 1,652 rupees.(1 U.S. dollar = 107.50 upees)