KSE-100 continues to gain as the benchmark Index gained 773.46 points or + 1.51% by the end of the trading session to close at 52146.97 points. The investors keenly await the MSCI reclassification effective from June 1.
In between 2:00 pm to 2:45 pm, the KSE-100 was up by 871 points in intra-day trading taking the index level to a intraday high of 52244 points.
Last week MSCI had officially reclassified Pakistan as an Emerging Market from a Frontier Market in the much awaited May 2017 Semi-Annual Index Review as the investors keenly wait for the MSCI reclassification effective from June 1. Last Monday, the 100 index witnessed a all time of 52387 points.
The Index opened positive and continued to gain profits throughout the trading session on Tuesday.
Volumes were better than Monday. Overall, volumes surged to over 323 million shares while in KSE 100 index around 112 million shares were traded.
CHEMICAL was the top traded sector with total traded volume of 50,119,90 shares. It was followed by COMMERCIAL BANKS with a total traded volume of 34,700,900 shares and TEXTILE SPINNING sector with a total traded volume of 29,618,450.
According to the market analysts Oil and gas sector, cement and sugar sector helped the market to make this gain.
Shares of 415 companies were traded. At the end of the day, 270 stocks closed higher, 133 declined while 12 remained unchanged.
Lotte Chemical was the volume leader with 40.67 million shares, gaining Rs 0.96 to close at 12.64. It was followed by TRG Pak Ltd with 12.63 million shares, gaining Rs 1.02 to close at Rs 54.91, Chakwal Spinning with 11.49 million shares, gaining Rs 0.96 to close at Rs 7.21 and Dewan Motors with 9.54 million shares, losing Rs 2.80 to close at Rs 53.55.
Top Five contributors to the KSE100 Index were:
The top advancers of the market were:
Top decliners of the market were:
Egyptian investment firm EFG-Hermes formally became part of the Pakistan Stock Exchange as a broker on Monday. It is for the first time in nine years that a foreign brokerage house has begun its operations in Pakistan. Investors reacted positively to the move.
Whereas PSX notified that the Post-Close Session will be effective from Wednesday 24th of May, 2017. From Monday to Thursday, the Post-Close Session will open at 4:00pm and will close at 4:15pm and on Friday it will open at 5:00 pm and will close at 5:15 pm