PSX commences week on positive note as index gains 400 points

The Pakistan Stock Exchange (PSX) on Monday commenced the week on a positive note, with the benchmark KSE-100 Index gaining 400 points to close at 43,411.
The benchmark opened higher and showed bullish activity throughout the session, with Friday’s close of 43,011 points remaining the day’s low. The market reached a day’s high of 43,479 points near the close of trading.
In all, 109.7 million shares worth Rs4.5 billion changed hands during the session. Of the 351 traded scrips, 189 advanced, 139 declined and 23 remained unchanged.
“Cement sector remained in the spotlight as manufacturers once again raised cement prices by Rs10 per bag. Consequently, the sector added 110 points to the index gain,” a Topline Securities report read.
“Trading volumes dropped by 22 per cent to 110m shares while value traded decreased to US$40m,” a JS Global report read.
Overall, the chemical sector dominated trading with 24.17m shares traded, while communication and vanaspati and allied industries scrips followed with 12.43m and 9.60m shares changing hands.
Volumes were led by:

Lotte Chemical: 12.75m shares traded [+3.44pc];

Unity Foods Ltd: 9.58m shares traded [-1.79pc];

Nimir Resins: 7.59m shares traded [+12.48pc];

WorldCall Telecom: 6.47m shares traded [+1.67pc];

Byco Petroleum: 6.44m shares traded [-0.20pc].