Closing Bell: A deceiving scenario

September 2, 2019 (MLN): Trampling upon a rather zig-zag route throughout the day, the KSE-100 index ultimately chose to land in green as it gained 385 points by the end of the session and closed at 30,057-mark.

As pointed out earlier in the Midday Report, trading at the Pakistan Stock Exchange was suspended due to technical issues. However, as soon as it resumed, the index made a remarkable turn as it was up by almost 500 points and was trading above 30,000 mark.

As per the judgements of market analysts, the index galloped high on the back of much anticipated multifaceted reform package by SECP. While the euphoria generated by this reform package was rightly reflected in today’s performance, the overall scenario may very well be deceptive as this euphoria is not expected to last for very long.

Of the 89 traded companies in the KSE100 Index 68 closed up 20 closed down, while 1 remained unchanged. Total volume traded for the index was 48.17 million shares.

Sectors propping up the index were Commercial Banks with 130 points, Oil & Gas Exploration Companies with 71 points, Oil & Gas Marketing Companies with 37 points, Fertilizer with 35 points and Power Generation & Distribution with 32 points.

The most points added to the index was by PPL which contributed 46 points followed by BAHL with 32 points, FFC with 27 points, UBL with 26 points and HBL with 23 points.

All Share Volume decreased by 32.52 Million to 77.45 Million Shares. Market Cap increased by Rs.56.92 Billion.

Total companies traded were 331 compared to 322 from the previous session. Of the scrips traded 232 closed up, 81 closed down while 18 remained unchanged.

Total trades decreased by 5,171 to 34,386.

Value Traded decreased by 1.38 Billion to Rs.2.59 Billion

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