Closing Bell: Bulls display resilience against adversity

July 9, 2019 (MLN): The local equity markets displayed strong resilience against bears on Tuesday, allowing the KSE-100 benchmark index to escape the red district and march triumphantly towards the green area.

The market participants gained confidence on the back of Asian Development Bank’s commitment to provide $2.1 billion to support Pakistan's reform and development programs during the current fiscal year.

While the benchmark index went as high as 34,051 during the day, it ultimately landed on the 33,855-mark after gaining 112 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 66 points, Inv. Banks / Inv. Cos. / Securities Cos. with 20 points, Pharmaceuticals with 8 points, Oil & Gas Marketing Companies with 8 points and Cement with 5 points.

The most points added to the index was by PPL which contributed 33 points followed by OGDC with 22 points, DAWH with 20 points, POL with 12 points and LUCK with 8 points.

Sector wise, the index was let down by Fertilizer with 9 points, Miscellaneous with 3 points, Automobile Assembler with 2 points, Automobile Parts & Accessories with 2 points and Paper & Board with 1 point.

The most points taken off the index was by UBL which stripped the index of 19 points followed by ENGRO with 10 points, INDU with 8 points, DGKC with 5 points and SHFA with 3 points.

Of the 90 traded companies in the KSE100 Index 50 closed up 34 closed down, while 6 remained unchanged. Total volume traded for the index was 48.35 million shares.

All Share Volume increased by 0.60 Million to 60.16 Million Shares. Market Cap increased by Rs.19.12 Billion.

Total companies traded were 303 compared to 306 from the previous session. Of the scrips traded 152 closed up, 130 closed down while 21 remained unchanged.

Total trades increased by 6,763 to 29,911.

Value Traded increased by 0.07 Billion to Rs.2.43 Billion

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