Closing Bell: A fresh breeze of victory!

Jun 20, 2019 (MNL): The equity market broke the three day long losing streak today as the benchmark KSE – 100 index recovered nearly 340 points out of a net loss of over 900 points during the prior three sessions.

The market participants maintained a steady ascent at the trading floors, deriving positivity from the narrowed current account deficit (CAD) and the news of European Union (EU)’s intent to help Pakistan escape from the Financial Action Task Force (FATF)’s grey list.

The 11 – month standing deficit has improved according to latest results as it now stands at 4.8% of GDP instead of 6.2% of GDP, which was recorded last year.

According to a closing note by Aba Ali Habib Securities, “tough measures to curtail imports and friendly policies to boost exports and remittances has current account deficit by 29% to USD 12.68 billion Jul-May.”

They also added that, “Investors’ confidence further boosted as both sides of lower house show signs of flexibility, which may lead to smooth sailing of FY19-20 budget.”

The Benchmark KSE-100 index ended the trading sessionwith a 339.79 point or 0.98 percent gain to close at 34,995.91.

The Index traded in a range of 414.96 points or 1.20 percent of previous close, showing an intraday high of 35,061.54 and a low of 34,646.58.

Of the 90 traded companies in the KSE100 Index 70 closed up 18 closed down, while 2 remained unchanged. Total volume traded for the index was 92.01 million shares.

Sectors propping up the index were Fertilizer with 66 points, Commercial Banks with 62 points, Oil & Gas Exploration Companies with 44 points, Cement with 44 points and Automobile Assembler with 25 points.

The most points added to the index was by FFC which contributed 21 points followed by EFERT with 21 points, ENGRO with 20 points, POL with 19 points and HUBC with 19 points.

Similarly, the All Share Volume increased by 63.68 Million to 163.03 Million Shares. Market Cap increased by Rs.44.11 Billion.

Total companies traded were 340 compared to 316 from the previous session. Of the scrips traded 225 closed up, 101 closed down while 14 remained unchanged.

Total trades increased by 12,198 to 51,649.

Value Traded increased by 1.08 Billion to Rs.4.52 Billion

CompanyVolume

Top Ten by Volume

Summit Bank19,374,000
Worldcall Telecom17,183,000
Jahangir Siddiqui & Co. Ltd.10,439,500
Pak Elektron10,170,000
Maple Leaf Cement Factory9,889,500
TRG Pakistan9,356,000
K-Electric9,325,500
Unity Foods6,670,000
Pioneer Cement3,348,500
Sui Northern Gas Pipelines3,161,500

 

SectorVolume

Top Sector by Volume

Technology & Communication29,058,800
Commercial Banks24,261,800
Cement22,426,700
Power Generation & Distribution13,347,500
Inv. Banks / Inv. Cos. / Securities Cos.11,183,100
Cable & Electrical Goods10,479,550
Chemical10,368,680
Oil & Gas Marketing Companies8,375,300
Vanaspati & Allied Industries6,670,500
Engineering6,153,200

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Posted on: 2019-06-20T18:28:00+05:00

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