Closing Bell: High Hopes

May 19, 2020 (MLN): The upbeat mood of global stocks amid rising international crude oil prices and optimism about virus vaccine was mirrored in local bourse as KSE-100 index gained 353 points to close at 34,158-mark.

As per closing note by Ismail Iqbal Securities, pharmaceutical sector performed exceptionally on high hopes for a vaccine sales and production to treat coronavirus.  Moreover, E&P remained in focus due to continuous recovery of oil prices over ease of lockdown and normalization of economic activities.

The Index remained positive throughout the session touching an intraday high of 34,350.54

Of the 97 traded companies in the KSE100 Index 63 closed up 32 closed down, while 2 remained unchanged. Total volume traded for the index was 168.83 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 106 points, Pharmaceuticals with 52 points, Oil & Gas Marketing Companies with 40 points, Miscellaneous with 39 points and Commercial Banks with 24 points.

The most points added to the index was by OGDC which contributed 60 points followed by PPL with 37 points, PSEL with 31 points, SNGP with 26 points and DAWH with 22 points.

Sector wise, the index was let down by Cement with 15 points, Fertilizer with 7 points, Automobile Parts & Accessories with 6 points, Tobacco with 6 points and Modarabas with 2 points.

The most points taken off the index was by ENGRO which stripped the index of 13 points followed by MEBL with 9 points, PIOC with 9 points, CHCC with 8 points and AICL with 7 points.

All Share Volume decreased by 14.17 Million to 247.80 Million Shares. Market Cap increased by Rs.61.01 Billion.

Total companies traded were 357 compared to 344 from the previous session. Of the scrips traded 182 closed up, 151 closed down while 24 remained unchanged.

Total trades increased by 18,174 to 108,432.

Value Traded increased by 3.21 Billion to Rs.10.49 Billion

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