Closing Bell: A temporary fix

Jun 21, 2019 (MLN): The KSE-100 index maintained its stance in todays’ session, as it ended the day by gaining 129 points to close at 35,125 points. The overall performance however wasn’t really cheer-worthy, as the benchmark index lost around 448 points over the week.   

As pointed out earlier, the much needed momentum and confidence within investors stemmed from the fall in country’s current account deficit, as well the news regarding European Union’s intent to help Pakistan escape from the Financial Action Task Force’s grey list.

Sectors propping up the index were Power Generation & Distribution with 83 points, Oil & Gas Exploration Companies with 77 points, Food & Personal Care Products with 19 points, Insurance with 9 points and Automobile Assembler with 6 points.

The most points added to the index was by HUBC which contributed 76 points followed by POL with 35 points, OGDC with 34 points, EFERT with 16 points and NESTLE with 14 points.

The Index remained positive throughout the session touching an intraday high of 35,206 points. Of the 89 traded companies in the KSE 100 Index, 41 closed up, 45 closed down, while 3 remained unchanged. Total volume traded for the index was 81.67 million shares.

Sector wise, the index was let down by Cement with 18 points, Commercial Banks with 16 points, Pharmaceuticals with 6 points, Automobile Parts & Accessories with 5 points and Chemical with 5 points.

The most points taken off the index was by HBL which stripped the index of 10 points followed by FFC with 10 points, BAHL with 8 points, THALL with 7 points and UBL with 6 points.

All Share Volume decreased by 33.72 Million to 129.31 Million Shares. Market Cap increased by Rs.28.10 Billion.

Total companies traded were 313 compared to 340 from the previous session. Of the scrips traded 122 closed up, 170 closed down while 21 remained unchanged.

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