PSX rebounds in line with trend in international markets

In line with the trend in international shares markets, the benchmark index of the Pakistan Stock Exchange stayed in the positive territory for the most part of the trading session on Friday.

According to Topline Se­­cu­rities, quarterly income pos­­ted by Indus Motor Com­pany Ltd was in line with market expectations while that by Pakistan Petroleum Ltd was less than the industry estimate owing to a hig­her share of losses from associates.

As a result, the KSE-100 index gained 153.73 points or 0.35 percent on a day-on-day basis to close at 43,984.24 points.

The trading volume decreased 31pc to 241.6 million shares while the traded value went down 23pc to $38m on a day-on-day basis.

Sectors that contributed the highest number of points to the benchmark index included fertilizer (70.16 points), commercial banking (25.81 points), oil and gas marketing (22.09 points), food and personal care (20.33 points), and tobacco (16.32 points).

Stocks contributing significantly to the traded volume included WorldCall Telecom Ltd (33.25m shares), Flying Cement Company Ltd (15.39m shares), TeleCard Ltd (11.09m shares), Ghani Global Holdings Ltd (9.55m shares) and Unity Foods Ltd (8.96m shares).

Shares contributing positively to the index included Fauji Fertiliser Company Ltd (32.49 points), Meezan Bank Ltd (27.49 points), Eng­ro Corporation Ltd (22.19 poi­­­nts), Pakistan Tobacco Company Ltd (16.32 points) and Unity Foods Ltd (15.44 points).

Stocks that took away the maximum number of points from the index included National Bank of Pakistan Ltd (29.69 points), Pakistan Petroleum Ltd (25.29 points), TRG Pakistan Ltd (19.81 poi­n­ts), Oil and Gas Develop­m­ent Company Ltd (17.09 poin­­ts) and MCB Bank Ltd (14.72 points). Stocks recording the biggest increases in percentage terms on a day-on-day basis were GlaxoSmithKline Pak­is­tan Ltd (6.54pc), Adam­jee Insurance Company Ltd (5.29pc), Pakistan Tobacco Company Ltd (5.26pc), Unity Foods Ltd (5.25pc) and Standard Chartered Bank Pakistan Ltd (3.97pc).

Foreign investors were net sellers as they offloaded shares worth $0.76m.