Closing Bell: Lower than anticipated CPI numbers lift the stock market

Sep 04, 2019 (MNL): The stock market opened on a negative note today fluctuated for a few hours until it finally broke the vicious spell cast by bears in yesterday’s session, as the KSE-100 index moved up by 435 points or 1.46 % and closed the day at 30,244 points.

This was due to August’s inflation statistics that rose by 10.5 % under the new base year i.e. 2015-2016, against the market’s expectation of around 11.6%.

The Index traded in a range of 898.96 points or 3.02 percent of previous close, showing an intraday high of 30,367.08 and a low of 29,468.12.

Of the 91 traded companies in the KSE100 Index 67 closed up 22 closed down, while 2 remained unchanged. Total volume traded for the index was 107.35 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 148 points, Cement with 81 points, Fertilizer with 56 points, Oil & Gas Marketing Companies with 46 points and Power Generation & Distribution with 20 points.

The most points added to the index was by ENGRO which contributed 61 points followed by OGDC with 56 points, PPL with 54 points, LUCK with 46 points and MCB with 39 points.

All Share Volume increased by 64.85 Million to 128.89 Million Shares. Market Cap increased by Rs.74.37 Billion.

Total companies traded were 341 compared to 338 from the previous session. Of the scrips traded 238 closed up, 81 closed down while 22 remained unchanged.

Total trades increased by 17,623 to 49,734.

Value Traded increased by 2.45 Billion to Rs.4.89 Billion

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