Bulls back on again as 100 index moves up over 300 points during first half

KSE 100 Index remains bullish today after a long awaited come back from the bulls as it trades at a 39,785 points, up 335 points or 0.85% from yesterday’s closing level of 39,452 points, during the first half of the trading session today. It has touched an intraday high of 39,778 points while the lowest that it has reached so far is 39,209 points, travelling a range of 573 points so far.

As of now, 29.4 million shares have already been traded at KSE 100 whereas volume traded within the broader KSE has touched 52.5 million shares.

The scripts at the bottom of KSE 100 so far include Commercial Banks and Tobacco whereas those on top comprise Fertilizer, Oil and Gas Exploration Companies and Cement.
Oil prices dropped today as a response to looming expectations regarding a further escalating trade war between the World’s two largest economies, United States (U.S) and China. Brent crude futures went down by 1 percent at $77.60. U.S crude dropped by 0.7 percent at $73.56.

Within KSE, the scripts that remained on top were Bata up by 2.46% or Rs. 45, Saphire Fibers Limited up by 5% or Rs. 41.65 and Bhanero Textile Mills Limited up by by 4.39% or Rs. 33. On the other hand, those at the bottom so far comprise of Phillip Morris Pakistan down by 5% or Rs.140.90 and J.D.W Sugar Mills Limited down by 4.97% or Rs. 15.40.

Meanwhile volume at KSE is being led by Fauji Food Limited (3.5 million), closely followed by Fauji Cement Company Limited (2.5 million) and Engro Polymer and Chemical Limited (2.5 million).