Closing Bell: KSE-100 gains more than 1100 points early on; closes at 46010.45 points [+98.42, +0.21%]

KSE-100 started the week with a bang, the KSE-100 by 10:50 reached at a level of 47111.54 more than 1200 points. The investors were jubilant as the market finally found a direction after weeks of tipsy ride in the KSE-100.

The markets finally shook away the negative momentum hailing from the disqualification and resignation of the Prime Minister. The subsequent selection of Khaqqan Abbasi and the nomination of Chief Minister Punjab, Mr. Shahbaz Sharif, for the Prime Minister have helped the markets settle for the coming weeks.

The markets were up and down throughout the day, the markets after gaining more than 1100 points at the beginning lost more than 600 points by 01:30 pm after noon. The markets however settled at +98.42 points at close.

Market gained a total of 98.42 points or an incline of 0.21% during today's session. The index touched an intra-day low of 47111.54 points, a high of 45911.74 and closed at a tally of 46010.45 points.

The net gainers by price during today's session were; Unilever Pakistan Foods Ltd UPFL +130.00, Sanofi-Aventis Pakistan SAPL +83.06, Mari Petroleum MARI +53.45, Khyber Tobacco KHTC +38.00 and Siemens Pakistan SIEM +36.95.

The net decliners by price during today's session were; Phillip Morris Pakistan PMPK -145.64, Sapphire Textiles SAPT -99.98, Indus Motor Company INDU -57.57, Exide Pakistan EXIDE -40.07 and Atlas Battery ATBA -20.00.

All Share Volume decreased by 0.86 Million to 319.13 Million Shares. Market Cap increased by Rs.33.30 Billion.

Total companies traded were 396 compared to 364 as of previous session. Of the scrips traded 274 closed up, 104 closed down while 17 remained unchanged.

Total trades decreased by 3,516 to 111,656.

Value Traded increased by 2.34 Billion to Rs.18.76 Billion.