August 26, 2020 (MLN): Following the upbeat momentum of yesterday’s trade, the KSE-100 Index climbed up by 569 points or an increase of 1.41 percent to close at 40,862 -level on Wednesday.
According to Aba Ali Habib Securities, investors’ confidence restored on revival of economic activities and governments’ efforts to bring back the economy on the track.
In addition to this, rise in international oil prices have spillover effect on the local bourse which helped the index to remain largely in positive zone. Moreover, government reached an agreement with Independent Power Producers (IPPs) which would lower electricity cost and reduces the crippling circular debt, the report added.
Besides, ongoing corporate result season have also played a role to support the index. Announcement of POL’s financial results with high dividend payout resulted in POL reaching a new high.
Furthermore, Arif Habib Limited in its report highlighted that expectation of high CPI, scheduled to be announced next week and monetary policy decision in September are the major reasons for brisk activity in Banking sector.
The Index remained positive throughout the session touching an intraday high of 40,894.53
Of the 96 traded companies in the KSE100 Index 64 closed up 29 closed down, while 3 remained unchanged. Total volume traded for the index was 273.51 million shares.
Sectors propping up the index were Commercial Banks with 205 points, Oil & Gas Exploration Companies with 86 points, Fertilizer with 55 points, Textile Composite with 46 points and Power Generation & Distribution with 38 points.
The most points added to the index was by HBL which contributed 124 points followed by MCB with 61 points, UBL with 48 points, POL with 41 points and ENGRO with 37 points.
Sector wise, the index was let down by Tobacco with 6 points, Food & Personal Care Products with 5 points, Transport with 2 points, Refinery with 1 points and Textile Spinning with 1 points.
The most points taken off the index was by BAFL which stripped the index of 35 points followed by NESTLE with 11 points, ABL with 8 points, PMPK with 6 points and PSEL with 5 points.
All Share Volume decreased by 27.07 Million to 508.00 Million Shares. Market Cap increased by Rs.79.01 Billion.
Total companies traded were 416 compared to 402 from the previous session. Of the scrips traded 247 closed up, 150 closed down while 19 remained unchanged.
Total trades increased by 15,384 to 184,007.
Value Traded increased by 1.18 Billion to Rs.21.52 Billion
| Company | Volume |
|---|---|
| Pakistan Refinery | 48,992,000 |
| Hascol Petroleum | 36,105,500 |
| Kot Addu Power Company | 18,550,000 |
| Maple Leaf Cement Factory | 17,234,500 |
| TRG Pakistan | 16,832,000 |
| Siddiqsons Tin Plate | 15,184,000 |
| Power Cement (R) | 13,947,500 |
| Fauji Foods | 13,296,500 |
| Pak Elektron | 13,202,500 |
| Azgard Nine | 12,673,000 |
| Sector | Volume |
|---|---|
| Refinery | 65,930,000 |
| Cement | 62,206,609 |
| Oil & Gas Marketing Companies | 53,461,154 |
| Technology & Communication | 43,021,300 |
| Power Generation & Distribution | 38,152,651 |
| Commercial Banks | 35,916,788 |
| Engineering | 27,158,600 |
| Textile Composite | 27,054,400 |
| Miscellaneous | 24,335,000 |
| Food & Personal Care Products | 20,217,580 |
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