New year optimism drives index past 41,000 points

Optimism seemed to return to the Pakistan Stock Exchange (PSX) for the first trading day of the new year on Monday with the index rising past the 41,000 point psychological barrier.

Data from the exchange showed that having opened at a level of 40,348.89 points on Monday, it climbed to a day high of around 41,027.51 points, or a climb of 678.62 points.

The index, however, settled lower, at 395.45 points over the close of last year’s last session, by the end of the day to ensure that the index closed in green.

Volume leaders included petroleum and energy sector companies including Pakistan Petroleum Limited (PPL) which saw some 14.956 million shares trade hands while its value rose by Rs3.23 – or 4.74% to a share price of Rs71.37.

It was followed by Pakistan Refinery Limited (PRL) which saw a trade volume of 12.733 million shares. It meant that its share price rose by 59 paisas – 4.55% to Rs13.56.

Defaulter stock, Hascol Petroleum Limited (HASCOL) saw 12.226 million shares traded with its share price rising by Re1 or around 17.83% to Rs6.61.

Cnergyico PK Limited (CNERGY) was fourth top advancer which saw 10.332 million shares traded with an increase in value of 21 paisas per share with an increase in 5.69%, to Rs3.9.

The top decliners were Pak-Gulf Leasing Company Limited (PGLC) 500 shares were traded with its value declining by Rs0.75 or 11.36% to Rs5.85.

For First Punjab Modaraba (FPJM), around 97,000 shares were traded. They fell in value by 18 paisas or 10.40% to Rs1.55.

For Arctic Textile Mills Limited (ARCTM), just 3,000 shares were traded. They fell in value by Re1 or 8.24% to Rs11.13.