Closing Bell: Bulls strike back hard and high

May 23, 2019 (MLN): An upward momentum continues for another trading session at Pakistan stock exchange, where the benchmark index gained 944 points and reverted above 35,000 mark to close today’s trade at 35,581 points, thus marking a growth of 2.73% from previous session’s trade.

Bulls seem to be in a resilient mood as the local equity market continues to post strong gains for the fourth consecutive session. As pointed out earlier, the positive sentiments in the market are due to expectation of a support fund launching soon.

On the sector front, the top performing sectors were, Commercial Banks, Fertilizer, Oil & Gas Exploration Companies and Cement as they collectively contributed 673 points to the index.  

Top traded scrips of the day were ENGRO (+3.86%), FFC (+4.97%), HBL (+2.72%) and LUCK (+5%).

The market witnessed a trading activity with a volume of 164.2 million, having a value of PKR 6.38 billion.

The index remained positive throughout the day and touched an intraday high of 35,631 points and intraday low of 34,637 points. Moreover, the share prices of 82 companies reported an increase, whereas 7 companies reported a decrease.

The broader KSE All Share index ended the session on a corresponding note, as it gained around 460 points and closed at 25,989 points. It traded nearly 227 million shares, having a value of Rs. 7.17 billion.

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