Off the wire
• Chinese federation holds Women's Day gathering  • China hopes for resumption of Afghan peace talks  • Germany's anti-migration party finishes third in municipal vote: preliminary results  • Turkish PM vows solidarity with EU to address migrant crisis  • Urgent: China qualifies for Rio Olympic women's soccer tournament  • Feature: Fukushima still battling environmental, social, economic strife 5 years on from disaster  • Advisory: Schedules for NPC, CPPCC annual sessions on March 8  • Foreign stone traders confident about China market  • UN urges speedy implementation of Mali peace deal  • IAEA urges DPRK to fully implement relevant UN Security Council resolutions  
You are here: 　 Home

Roundup: Pakistan Stock Exchange breaches 33k-point barrier

Xinhua, March 7, 2016 Adjust font size:

The Pakistan Stock Exchange (PSX) broke the psychological barrier of 33,000 points on Monday for the first time since January 7, 2016 as investors took keen interest in oil stocks in the wake of rising international oil prices.

The Pakistan Stock Exchange's (PSX) benchmark KSE 100-Index skyrocketed by 1.79 percent or 580.86 points to 33,022.60 points on Monday when compared with 32,441.74 points reported on Friday. During the nine-day bullish rally, the main index has piled on 2,458.10 points from 30,564.50 on Feb. 23 to 33,022.60 points on March 7.

The KSE All Share Index jumped by 1.62 percent or 361.08 points to 22,628.04 points, the KSE 30-Index augmented by 2.24 percent or 429.92 points to 19,600.42 points, the KMI 30-Index elevated by 2.16 percent or 1,216.13 points to 57,514 points, whereas the Islamic All Share Index gained 1.69 percent or 256.60 points to 15,479.22 points on Monday.

During Monday's trading session, the main index moved in a broad range of 588.55 points as it scaled an intraday high of 33,030.29 points as against an intraday low of 32,441.74 points.

Investors gained confidence with international oil price rising which resulted in a buying spree in other sectors including cement. Continuous foreign inflows in cement sector helped Maple Leaf Cement (MLCF), Dera Ghazi Khan Cement (DGKC), and Fauji Cement Limited (FCCL) to close up 3.5 percent, 1.64 percent, and 1.93 percent, respectively.

Oil prices continued to rise internationally which led gain in Pakistan Oilfields Limited (POL), Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) by 2.31 percent, 3.62 percent, and 3.25 percent, respectively.

Market volumes surged by 35.09 percent or 52.763 million shares to 203.118 million shares on Monday when compared with 150.354 million shares recorded on Friday.

Market capitalization increased by 1.78 percent or 120.809 billion rupees (1.184 billion U.S. dollars) to 6.916 trillion rupees (67.812 billion dollars) whereas trade value swelled by 39.32 percent or 3.381 billion rupees (33.151 million dollars) to 11.98 billion rupees (117.458 million dollars).

Among 364 active scrips on Monday, prices of 250 issues advanced, 82 declined, whereas values of 32 other companies stayed unchanged at previous week's level.

Jahangir Siddiqui Company Limited, TRG Pakistan Limited, and Pakistan Telecommunication Company Limited were the top traded companies with turnovers of 14.761 million shares, 14.568 million shares, and 10.735 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 95 rupees (93.14 cents) to 6,800 rupees (66.66 dollars) while on the flip side Wyeth Pakistan Limited led the major price shedders with decrement of 60 rupees (58.82 cents) to 1,750 rupees (17.15 dollars). Enditem