PSX Closing Bell: High Hopes

Jul 01, 2021 (MNL): The domestic equity market kicked off the first trading day of the financial year 2021-22 with a positive note and maintained its momentum throughout the session on the back of positive economic developments including high exports volume of $2.7bn for the month of June’21.

Moreover, NAB allowed power division to process payments of IPPs of power policy 2002 as per the revised contracts which created a positive vibe today in the market. Further, CPI inflation clocked in at 9.7 % YOY for June’21 which remained slightly lower than the expectations further garnered investors' interest, a market closing note by Topline securities said.

Accordingly, the Benchmark KSE100 concluded the session in the green territory with a gain of 444.55 points or 0.94 percent gain to close at 47,800.57.

The Index remained positive throughout the session touching an intraday high of 47,843.47.

Of the 94 traded companies in the KSE100 Index 77 closed up 14 closed down, while 3 remained unchanged. Total volume traded for the index was 139.99 million shares.

Sectors propping up the index were Cement with 102 points, Oil & Gas Exploration Companies with 67 points, Textile Composite with 41 points, Chemical with 34 points and Fertilizer with 29 points.

The most points added to the index was by LUCK which contributed 65 points followed by PPL with 30 points, COLG with 22 points, NML with 21 points and HBL with 19 points.

Sector wise, the index was let down by Insurance with 8 points and Paper & Board with 4 points.

The most points taken off the index was by MCB which stripped the index of 12 points followed by BAFL with 11 points, TRG with 7 points, ABL with 5 points and PKGS with 5 points.

All Share Volume increased by 210.34 Million to 760.01 Million Shares. Market Cap increased by Rs.87.63 Billion.

Total companies traded were 421 compared to 422 from the previous session. Of the scrips traded 302 closed up, 107 closed down while 12 remained unchanged.

Total trades increased by 26,740 to 171,206.

Value Traded increased by 0.38 Billion to Rs.16.26 Billion

Copyright Mettis Link News