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Roundup: Banks, cements keep PSX bullish for 8th day

Xinhua, February 2, 2016 Adjust font size:

- The Pakistan Stock Exchange (PSX) flirted with the psychological 32,000 points during eighth straight bullish day on Tuesday as investors kept busy on the buying counters with top banking and cement companies on their radar.

The Pakistan Stock Exchange's (PSX) benchmark KSE 100-Index gained 0.26 percent or 82.46 points to 31,960.61 points on Tuesday when compared with 31,878.15 points reported on Monday. During the eight-day bullish streak, the main index has collected 1,208.81 points.

The KSE All Share Index declined by 0.16 percent or 35.28 points to 22,309.90 points, the KSE 30-Index increased by 0.4 percent or 73.59 points to 18,653.79 points, the KMI 30-Index skidded lower by 0.09 percent or 49.73 points to 54,439.62 points, whereas the Islamic All Share Index inched lower by 0.07 percent or 10.84 points to 15,135.04 points.

During Tuesday's trading session, the main index travelled in a narrow range of 292.84 points as it touched an intraday high of 32,170.99 points as against an intraday low of 31,878.15 points.

Banking sector stayed in the limelight for second straight day as Bank Al-Falah Limited (BAFL), Habib Bank Limited (HBL), and United Bank Limited (UBL) closed higher by 4.03 percent, 2.73 percent, and 1.34 percent, respectively.

On the other hand, oil scrips were in pressure due to decline in international oil prices which forced the Pakistan Oilfield Limited (POL), Pakistan Petroleum Limited (PPL), and Oil and Gas Development Company (OGDC) to decline by 2.26 percent, 2.73 percent, and 2.67 percent, respectively.

Market volumes improved by 7.45 percent or 10.013 million shares to 144.365 million shares on Tuesday when compared with 134.352 million shares posted on Monday.

Market capitalization reduced by 0.15 percent or 10.448 billion rupees (102.435 million U.S. dollars) to 6.763 trillion rupees (66.311 billion dollars) whereas trade value swelled by 5.75 percent or 466.701 million rupees (4.575 million dollars) to 8.585 billion rupees (84.173 million dollars).

Among 342 active scrips on Tuesday, prices of 164 issues advanced, 161 declined, whereas values of 17 other companies stayed unchanged.

Fauji Cement, Bank of Punjab, and Jahangir Siddiqui Company Limited were the top traded companies with turnovers of 12.274 million shares, 10.132 million shares, and 8.087 million shares, respectively.

Shield Corporation was the top price gainer with increment of 27.94 rupees (27.39 cents) to 586.84 rupees (5.75 dollars) whereas Bata Pakistan led the major price shedders with decrement of 136 rupees (1.33 dollars) to 3,165.11 rupees (31.03 dollars). Enditem