After 4 consecutive days of a bearish run, the market finally returned back in the green with the beginning of a new month.
At close, Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index recorded a gain of 206.43 points, or 0.47%, to end at 44,255.48 points.
The benchmark opened higher to hit a day’s high of 44,436 with an intraday gain of +387 points.
In another big acquisition news, Mega Conglomerate (Pvt) Ltd is set to acquire 15.8 percent stake, that Dawood Hercules Corporation Limited (DHCL) holds in Hubco Power Company Limited, at a purchase price of Rs. 106.5 per share.
HUBCO’s share was closed at Rs. 100.69, up by +1.93% and DAWH’s was closed at Rs. 128.17, up by 4.99%.
Overall volumes were very low today as a dull trading day was seen today. All shares index had a traded volume of 228.25 million shares today.
Overall, stocks of 3 companies were traded on the exchange, of which 213 gained in value, 147 declined and 15 remained unchanged.
In KSE 100, 87.13 million shares were traded with a net worth of just Rs. 5.86 billion.
Top traded sectors:
World Call Telecom was the volume leader with 23.82 million shares, gaining Rs. 0.13 to close at Rs. 2.67 as it has been put back in the normal segment from defaulters segment in the PSX.
The Sindh High Court on 31th January ordered PSX to not place World Call in the defaulter’s segment. In response to this, the company has been shifted to the normal counter with immediate effect, notified the exchange. The next hearing will be at February 7th 2018.
It was followed by Fauji Foods Ltd with 13.14 million shares, losing Rs. 0.72 to close at Rs. 20.20, Aisha Steel Mills with 10.88 million shares, gaining Rs. 0.68 to close at Rs. 22.19 and Lotte Chemical with 10.78 million gaining Rs. 0.13 to close at Rs. 8.73.
Top Advancers of the market were:
Top Decliners of the market were: