KARACHI – Led by cement sector, Pakistan Stock Exchange once again breached the 33000-point barrier on Thursday. The benchmark 100-share index posted a gain of 216.60 points to settle at 33,139 points.

Positivity prevailed in yesterday’s session. Rally was witnessed in the cement sector as the government approved construction of Rs130 billion four-lane Hakla-DI Khan expressway. Star performers of the aforementioned sector were DGKC, which rose 1.28%, and PIOC that went up by 2.26%.

Negativity prevailed in the oil and gas sector, amid depressed global crude oil prices with the exception of PSO and MARI. MARI, up 2.93%, rallied on the back hydrocarbon discoveries and PSO, which rose 0.90%, rallied in anticipation of inventory gains as domestic petroleum prices will be increased, observed analyst Ahmed Saeed Khan.

Some positivity was witnessed in the fertilizer sector. Star performer of the sector was ENGRO that increased 1.52%, brokers said.

Traded volumes improved 41% to 163m shares and value increased 42% to Rs9.7b/$92.8m.
Dealers said sit-in at the capital ended peacefully which relieved political tensions in the country. That, coupled with the news of start of consultation process to include Pakistan in MSCI Emerging Market index, prompted local bourse.

PAEL closed 2% down after it announced year-end results which were below market expectations. THALL rose 3% after it announced possible venture into coal based power generation.

 

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