KARACHI - Pakistan Stock Exchange closed the week on a positive note, with the benchmark KSE 100-share index gaining 230 points to settle at 43,740 points.
The market is seeing an uptrend in both volumes and index points, though the investors seem confused with the divergence of fundamentals.
Steel sector showed healthy volumes amidst negative price performance due to the news of Trump imposing tariff on steel and aluminum, next week.
Selling pressure in PAEL seems to have subsided and investors are again taking interest in building positions, brokers said.
BYCO which scored well on fundamentals saw significant selling pressure at the end of session, which went against investors’ expectations. It is anticipated to recover in the coming week. Despite selling pressure in HBL & UBL, the market was positive, due to positive sentiments in cement, fertilizer and auto sectors.
End of session saw positive price movements in banks as well, which helped the index close above 200 points, said AHL report.
Sectors contributing to activity included cement that added 125 points, fertilizer 38 points, and commercial banks that contributed 35 points to the index gain.
Volumes increased further to reach 229.6m shares as against 211.9m shares Thursday (up 8% DoD). Average traded value declined by 7% DoD to reach $86.8m as against $93m.
Stocks that contributed significantly to the volumes included DSL, TRG, BYCO, ASL and PAEL, reflecting 31% of total volumes.
Scripts that contributed positively include LUCK that added 36 points, HBL 28 points, NESTLE 28 points, OGDC 21 points and FCCL that added 21 points to the index gain respectively.
Stocks that contributed negatively included PAEL that shed 12 points, COLG 10 points, POL 9 points, MCB 8 points and MARI that eroded 7 points respectively from the index.