Closing Bell: KSE-100 Index reaches an All-time high, Up by 0.63 Percent, Gains 324.90 points

KSE-100 Benchmark Index reached a record high after oil and cement stocks sent the market soaring. The market reached an all time high in today’s session after the oil stocks opened up after the OPEC member’s announcement yesterday of cutting supply to Asian countries yesterday. The opening session saw a rise resulting from OPEC announcement, the momentum continued during the day when index reached record highs. The Index reached at a level of 51750.91 points.

During today’s session, market reached an all time high of 51793.56 and a low of 51,399.23 points.

Top net gainers in today’ session was Unilever +200.00[+3.23%], Sapphire Fibres +66.50[+5.00%], NESTLE +50.00[+0.51%], Pak Services +46.00[+4.93%] and Wyeth Chemicals +31.63[+1.35%].

Top net losers in today’s session were Hino Pak -83.75[-5.00%], Sanofi Aventis -50.01[-2.33%], Jubilee Life Insurance Company -15.49[-2.18%] and Attock Cement -14.65[-4.38%].

The sectors with most companies in green were Cement, Engineering, Oil & Gas Exploration Companies, Oil & Gas Marketing Companies, Power Generation & Distribution and Food & Personal Care Products.

Although figures released by Pakistan Automotive Manufacturers’ Association showed car sales to be slowing, it did not affect the performance of Automobile Parts & Accessories sector.

All Share Volume decreased by 50.80 Million to 346.71 Million Shares. Market Cap increased by Rs.43.89 Billion.

Total companies traded were 389 compared to 386 from the previous session. Of the scrips traded 197 closed up, 169 closed down while 23 remained unchanged.

Total trades decreased by 9,423 to 106,132.

Value Traded increased by 0.87 Billion to Rs.18.73 Billion