Closing Bell: Much ado about nothing!

May 14, 2019 (MLN): After months of hard work, frustration, sweat and blood, Pakistan managed to bag a deal worth $6 billion from IMF, only to see the stock markets perform entirely opposite of what was expected. The KSE-100 index, in its second session of the week, lost merely 15 points and closed in consolidation at 33,885 points.

However, the E&P companies and Commercial banks took a blissful sigh as they collectively contributed 197 points to the index. On the other hand, Oil and Marketing companies, Cement and Fertilizer sector remained fused to their route and snatched a total of 126 points from the index.  

Moreover, the scrips that emerged as the key performance drivers included PPL (3.77%), HUBC (1.95%), POL (2.66%), UBL (1.50%), PSO (-4.82%), DAWH (-3.98%) , DGKC (-5.00%) and COLG (-4.88%).

Engulfed within a range of 375 points, the index touched an intraday high of 34,067 points and an intraday low of 33,691 points. Moreover, the share prices of 29 companies reported an increase, 61 companies reported a decline whereas 3 companies reported no change.

The broader KSE All Share index ended the session on a corresponding note, as it lost around 31 points and closed at 25,009 points, just 9 points shy of falling below the 25,000-mark. It traded nearly 105 million shares, having a value of Rs. 4.2 billion.

Copyright Mettis Link News