Closing Bell: Bulls back in the game as 100 index climbs 41,000 mark

September 13, 2018 (MLN): Pakistan’s stock market made much-awaited headways today as the KSE 100 index gained 527 points, highest in two months, with Commercial Banks, Fertilizer, Oil and Gas and Cement companies leading the gains in the market today.

The 100 index crossed the 41,000 mark that was broken a few days ago, to close the session 1.30 percent higher in a single day, closing in at 41,049 points with about 93.4 million shares traded today for the scrips listed on the benchmark index.

Index remained positive throughout the session in part owing to the absence of any negative news with respect to the mini budget that is likely to be presented to the Parliament today, with a rally on the international market for oil caused by supply fears supporting the gains made on Oil and Gas stocks. OGDC (+1.26%), PPL (+2.07%) and POL (1.55%) are among the major oil and gas stocks impacted by the jump in oil prices.

Among the index heavy weights, LUCK (+2.64%), ENGRO (+1.41%), SNGP (+4.59%), MCB (+1.35%) and UBL (+1.44%) also weighed in the rise of the index.

An intraday high of 41,150 points was seen today, while the intraday low remained at 40,339 points, an 811 point range movement in the index today.

93 scrips of the companies on the 100 index were traded today, with 73 companies landing in the green, 16 in red and 4 at the same level as before.

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