KARACHI - Bullish trend continued at PSX on first trading day resultantly the bench mark shares index crossed psychological barriers to close at 50,112 level by gaining 403 points or (0.81 percent).

Maximum upside contribution came from MCB (gain 3.9pc), OGDC (2.5pc), SNGP (4.9pc), PSO (+3.3pc) & SEARL (+3.6pc), adding 221 points, while HUBC (slip 1.9pc), HBL (0.9pc), NML (2.1pc), PPL (0.7pc) and EFERT (-1.4pc), eroded 105 points from the index, said analyst Adnan Sami Sheikh.

Investor interest was seen in the automobile sector as it gained to close (3.5pc) higher than its previous day close. PSMC (gain 5pc), HCAR (4.23pc) and INDU (4.72pc) were the top performers of the aforementioned sector. PSMC and HCAR in the aforementioned sector gained as both the assemblers introduced their respective new variant over the weekend. PSMC introduced its 1,000cc new Cultus, whereas on the other hand HCAR introduced its Honda BR-V, which is a 7-seater SUV. INDU on the contrary gained to close on its upper circuit, as the company declared its 9MFY17 result in which it posted earnings of Rs130.34/share, which was higher than the market expectation. This 9MFY17 result was accompanied by an Rs30/share dividend taking the total payout to date to Rs80/share. PSO (rose 3.25pc) and HTL (3.61pc) in the OMC sector gained as both the oil marketing companies declared their 9MFY17 results.

PSO posted earnings of Rs52.10/share along with a dividend of Rs10/share, whereas HTL on the other hand posted consolidated earnings of Rs5.40/share. NML (slip 2.08pc) in the textile sector lost value to close in the red zone as the textile company posted earnings of Rs8.78/share in its 9MFY17 result, down 13 percent YoY on lower margins, stated analyst Nabeel Haroon.

Market participation sustained with volumes increasing by 1 percent d/d to 400 million shares while traded value was down 8 percent to Rs22.2 billion/$212 million.