PSX-continues-bullish-trend-gains-827-points-e1576187826235Pakistan Stock Exchange (PSX)extended its gains on Thursday, as benchmark Kse-100 index added 191.12 points by the closing bell to close at 45,344.54 index level. During the session, the index witnessed strong momentum right from the opening bell and gained over 400 points to mark intra-day high at 45,619.80 level, however, it succumbed to selling pressure in the later hours of the session owing to profit-taking. The buying activity was witnessed across the board, as geared up in anticipation of annual financial results. During the session major moves were recorded in blue-chip stocks, especially in Exploration &Production, and Banking scrips. Meanwhile, Cement, Steel and Fertilizer stocks continued strong momentum, primarily on the back of healthy growth in cement despatches, whereas chemical stocks also performed well ahead the closure of the quarter and in anticipation of posting better earnings. Among other sectors, textile and chemical stocks also managed to put up a decent show, owing to Economic Coordination Committee (ECC) of the Cabinet’s approval to remove 2% additional customs’ duties on 152 tariff lines.The meeting of the ECC was held under the chair of Finance and Revenue Minister Dr Abdul HafeezShaikh. According to the National Clearing Company of Pakistan Limited (NCCPL) foreign investors were net buyers of worth $2.39 million worth of equities. Among local investors, Mutual Funds led the buying chart with $7.99 million worth of equities followed by Banks with $1.89 million worth of equities. However, selling chart was led by Insurance Companies, which sold $5.75 million worth of equities, followed by Individuals with $3.99 million worth of equities. The volume at Kse-100 was recorded at 394.72 million shares, while the all share volume dropped slightly from 664.52 million shares in the previous session to 641.44 million shares. The volume chart was led by Byco Petroleum Pakistan Limited, Power Cement Limited and KotAddu Power Company Limited. The scrips exchanged 94.87 million, 34.20 million and 32.19 million shares, respectively. Sectors that lifted the index were Commercial Banks with 177 points, Fertilizer with 100 points, Investment Banks with 12 points, Power Generation & Distribution with 8 points and Food & Personal Care Products with 8 points. Among the scrips, the most points added to the index was by United Bank Limited which contributed 88 points followed by HabibBank Limited with 44 points, Fauji Fertilizer Company Limited with 37 points, Engro Fertilizers Limited with 29 points and Engro Corporation Limited with 27 points. Sector’s that added pressure on the index were Oil & Gas Marketing Companies with 51 points, Cement with 35 points, Oil & Gas Exploration Companies with 26 points, Automobile Assembler with 6 points and Vanaspati& Allied Industries with 5 points. Among the scrips, the most points taken off the index was by Pakistan State Oil which stripped the index of 41 points followed by Pakistan Petroleum Limited with 29 points, Oil &Gas Development Company Limited with 19 points, Lucky Cement with 18 points and Azgard Nine Limited with 17 points.