KARACHI : Led by oil, fertilizers and cement scrips, Pakistan Stock Exchange closed higher on Thursday amid speculations in the earnings announcement session. The PSX shares index added 93.35 points to close at 31,193.73 points.
International oil prices were on the rise which drove the index today to close up 0.30%. Traded volume decreased by 28.16% to 85.7m shares while traded value decreased 5% to Rs6.08b.
Investors are expecting better local sales in cement which kept the sector on the rise, stated Hammad Aman at Topline Securities. KOHC result was announced in which it declared a cash dividend of Rs5/share with earnings of Rs13.6/share due to which KOHC share price hit its upper limit. Oil prices internationally rose due to which POL, OGDC & PPL gained 2.94%, 3.71% & 3.44% respectively, analyst added.
Institutional interest was seen in cement scrips on impact of new CPEC projects, upbeat fertilizers off-take data and strong financial results.
Recovery in global equities, crude oil prices and likely change in SBP policy stance by the new monetary policy committee played a catalyst role in bullish activity at PSX, observed analyst Ahsan Mehanti Arif Habib Corp.
Out of total traded companies in market, 152 closed in decline, 153 in advance while 19 went unchanged.