April 29, 2020 (MLN): The domestic equities sustained positive momentum on Wednesday and extended its gains by further adding 605 points to the benchmark KSE-100 index and closed the session on 33,158 points marks.
The index remained positive throughout the session today as investors foresee a further slowdown in April 2020 inflation numbers.
According to Ismail Iqbal Securities, Prime Minister's Advisor on Finance stated that Government plans to reduce POL product prices from next month which would help in bringing down inflation and may also create room for further monetary easing.
In addition to this, investors confidence further improved on the back of the government’s consideration of reduction in fertilizer prices and market grapevine suggests that this will be targeted through direct subsidy to farmers. Policymakers are also eyeing a reduction in electricity tariff and direct subsidy to SMEs in the form of a waiver on electricity bills which will also encourage economic activity, the research house stated in the report.
The index touched an intraday high of 33,158.84
Of the 93 traded companies in the KSE100 Index, 72 closed up 18 closed down, while 3 remained unchanged. Total volume traded for the index was 110.97 million shares.
Sectors propping up the index were Oil & Gas Exploration Companies with 177 points, Power Generation & Distribution with 120 points, Fertilizer with 85 points, Cement with 67 points and Inv. Banks / Inv. Cos. / Securities Cos. with 33 points.
The most points added to the index was by HUBC which contributed 116 points followed by OGDC with 61 points, POL with 50 points, FFC with 45 points and LUCK with 39 points.
Sector-wise, the index was let down by Commercial Banks with 22 points, Real Estate Investment Trust with 2 points, Transport with 1 point, Refinery with 1 point and Vanaspati & Allied Industries with 1 point.
The most points taken off the index was by BAHL which stripped the index of 35 points followed by HBL with 12 points, NESTLE with 8 points, HMB with 4 points and PSO with 2 points.
All Share Volume decreased by 18.94 Million to 140.47 Million Shares. Market Cap increased by Rs.95.93 Billion.
Total companies traded were 342 compared to 325 from the previous session. Of the scrips traded 226 closed up, 96 closed down while 20 remained unchanged.
Total trades increased by 11,932 to 74,977.
Value Traded increased by 1.87 Billion to Rs.7.70 Billion
|Maple Leaf Cement Factory||18,439,000|
|D.G. Khan Cement Company||7,269,500|
|Oil & Gas Development Company||4,879,047|
|Fauji Fertilizer Company||3,115,669|
|Oil & Gas Marketing Companies||11,815,271|
|Oil & Gas Exploration Companies||10,868,218|
|Power Generation & Distribution||7,542,030|
|Technology & Communication||5,110,500|
|Vanaspati & Allied Industries||5,041,800|
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