Closing bell: Index glows green as KSE – 100 gains 2,500 pts in a week

May 24, 2019 (MLN): After a long, bumpy ride with the bears who dragged the domestic equity market though the dirt, a government initiative to pull the market back up has hit the bulls’ eye as the benchmark KSE – 100 index successfully completes a week in the green zone, having cumulatively gained over 2,500 point in the last five sessions.

The index ended today’s trade with a 122 point (or 0.34) percent gain to close at 35,703. It traded in a range of 330 points, showing an intraday high of 35,766 and a low of 35,435.

Of the 87 traded companies in the KSE100 Index, 48 closed the session up while 36 closed the session down. The total volume traded within the index was 110.4 million shares, at PKR 5.5 billion.

Today’s maximum gains were recorded within Fertilizer sector and Cement sector as they collectively contributed around 146 points to the index.

In particular, gains on the scrips of FFC was the key driver of the index.

In contrast, the Oil & Gas Exploration Companies stripped the benchmark index of 138 points and thereby emerged as the worst performing sector today.

On the other hand, the KSE All Share Volume decreased by 85.68 million to 142.03 million shares, while the market cap increased by Rs.4.34 Billion to Rs.7.2 trillion.

Total companies traded within this index were 313 compared to 359 from the previous session.

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