Closing Bell: All hail the Bulls!

November 4, 2019 (MLN): The local equity market on Monday depicted an outstanding, ground-breaking performance, as the KSE-100 index gained over 899 points and concluded the session at 35,277-level.

It is pertinent to mention here that this is the first time since June 21, 2019 that the index has crossed 35,000 level. The benchmark index remained highly positive throughout the day, and went as high as 35,309-mark.

As stated earlier, the market sentiments were fueled by the rise in cement dispatches during October 2019 by 9.19 percent, which is also an all-time record for a month’s dispatches as compared to 4.564 million tons in October 2018. Moreover, the decline in trade deficit also paved the way for positive sentiments within investors.

Other than that, the uncertainty hovering around upcoming CPI results, as well as Monetary Policy Announcement fueled participation by investors.  

Of the 91 traded companies in the KSE100 Index 80 closed up 9 closed down, while 2 remained unchanged. Total volume traded for the index was 138.20 million shares.

Sectors propping up the index were Commercial Banks with 273 points, Fertilizer with 135 points, Oil & Gas Exploration Companies with 114 points, Cement with 90 points and Power Generation & Distribution with 84 points.

The most points added to the index was by HBL which contributed 94 points followed by MCB with 74 points, HUBC with 73 points, ENGRO with 58 points and LUCK with 49 points.

All Share Volume increased by 50.66 Million to 207.78 Million Shares. Market Cap increased by Rs.125.16 Billion.

Total companies traded were 370 compared to 349 from the previous session. Of the scrips traded 278 closed up, 80 closed down while 12 remained unchanged.

Total trades increased by 14,691 to 71,020.

Value Traded increased by 2.02 Billion to Rs.8.48 Billion

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