Closing Bell: Interstellar Overdrive

July 16, 2020 (MLN): Domestic equities on Thursday took a turnaround from yesterday’s closing and concluded today’s session on a greener note by gaining 322 points to reach 37,001 points.

Meanwhile, it is worth mentioning that, this is the first time since March 11, 2020 that the benchmark KSE-100 index has closed higher than 37,000 points.

The index remained positive throughout the session today led by Cement Sector as the Prime Minister inaugurated construction of Diamer Bhasha Dam while SBP also mandated banks to increase lending to construction sector. Moreover, E&Ps also closed in green as international crude oil price remained upbeat at USD 43.77/bbl, a closing note by Ismail Iqbl Securities stated.

The Index touched an intraday high of 37,029.44 (+350.41 or 0.96%) points.

Of the 98 traded companies in the KSE100 Index 67 closed up 31 closed down. Total volume traded for the index was 237.08 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 66 points, Cement with 66 points, Commercial Banks with 46 points, Automobile Assembler with 41 points and Automobile Parts & Accessories with 24 points.

The most points added to the index was by LUCK which contributed 38 points followed by PPL with 37 points, HBL with 32 points, THALL with 18 points and MTL with 16 points.

Sector wise, the index was let down by Insurance with 3 points, Textile Spinning with 3 points, Miscellaneous with 2 points, Leather & Tanneries with 2 points and Sugar & Allied Industries with 1 points.

The most points taken off the index was by COLG which stripped the index of 13 points followed by BAFL with 8 points, HASCOL with 6 points, EFUG with 5 points and CHCC with 4 points.

All Share Volume increased by 74.20 Million to 402.59 Million Shares. Market Cap increased by Rs.71.59 Billion.

Total companies traded were 385 compared to 386 from the previous session. Of the scrips traded 231 closed up, 142 closed down while 12 remained unchanged.

Total trades increased by 19,568 to 143,783.

Value Traded increased by 1.91 Billion to Rs.16.07 Billion

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