Karachi (August 2, 2017): Pakistan Stock Exchange continued its journey with positive momentum as the benchmark KSE-100 index gained 416 points, or 0.89 per cent, by the close of the trading session to reach 46,949 points.
The bullish trend ruled over the course through out the day’s trading. However, the market showed an upswing during the first 45 minutes, with the benchmark climbing 432 points.
The index touched the day’s high at 46,989 points near the close of the session. The market’s opening at 46,533 points remained the day’s low.
Trading activity was led by the engineering sector, with 47 million shares traded during the session. The chemical and the cement sectors followed with 41.8m and 35.7m shares traded respectively.
Buying interest was witnessed in the oil marketing companies sector as PSO (+2.46pc), SNGP (+2.51pc), and SSGC (+1.64pc) gained from the aforementioned sector.
Steel sector continued its positive trend due to revised custom valuations on imported steel, favouring local steel manufacturers.
OGDC (-0.57pc), POL (-0.25pc) and PPL (-0.82pc) from the oil and gas exploration and production companies’ sector shed points as international oil prices decreased on account of increasing US oil inventory and high OPEC production.
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