July 2, 2019 (MLN): Having witnessed the government’s all-out efforts to comply with the International Monetary Fund (IMF)’s pre-requisite conditions, it seems like the equity market participants have gathered high hopes from the Fund as they ended the third consecutive session in the green zone.
An executive board meeting of the Fund is scheduled to take place tomorrow where the $6 billion bailout package for Pakistan will be considered for approval.
As pointed out by Intermarket Securities, another reason for the leap in today’s market performance could be the slower than expected growth in inflation recorded for June 2019.
Other contributing factors include the sudden twist in PKR's value as it appreciated by another 2 rupee against dollar, and the disbursement of the oil import facility from Saudi Arabia.
The Benchmark KSE-100 index ended today’s trading session with a 310 point or 0.91 percent gain to close at 34,307.
The Index traded in a range of 421 points or 1.2 percent of previous close, showing an intraday high of 34,340 and a low of 33,918.
Of the 87 traded companies in the KSE100 Index 65 closed up 18 closed down, while 4 remained unchanged. Total volume traded for the index was 73.91 million shares.
Sectors propping up the index were Fertilizer with 74 points, Commercial Banks with 71 points, Cement with 40 points, Oil & Gas Exploration Companies with 31 points and Pharmaceuticals with 23 points.
The most points added to the index was by FFC which contributed 40 points followed by HBL with 34 points, NBP with 17 points, LUCK with 17 points and MCB with 17 points.
Meanwhile, the KSE All Share Volume increased by 43.12 Million to 91.16 Million Shares. Market Cap increased by Rs.31.47 Billion.
Total companies traded were 307 compared to 314 from the previous session. Of the scrips traded 206 closed up, 77 closed down while 24 remained unchanged.
Total trades increased by 12,328 to 35,592.
Value Traded increased by 1.32 Billion to Rs.3.09 Billion
| Company | Volume |
|---|---|
| K-Electric | 13,561,500 |
| TRG Pakistan | 8,381,500 |
| Lotte Chemical Pakistan | 6,967,000 |
| Unity Foods | 6,215,500 |
| Maple Leaf Cement Factory | 4,662,000 |
| Worldcall Telecom | 3,356,500 |
| Engro Polymer & Chemicals | 2,779,500 |
| Pak Elektron | 2,434,500 |
| Descon Oxychem | 2,165,000 |
| Bank AL Habib | 1,921,000 |
| Sector | Volume |
|---|---|
| Power Generation & Distribution | 15,114,000 |
| Chemical | 14,007,150 |
| Technology & Communication | 12,540,000 |
| Cement | 10,353,400 |
| Commercial Banks | 6,909,400 |
| Vanaspati & Allied Industries | 6,215,600 |
| Oil & Gas Marketing Companies | 4,280,600 |
| Fertilizer | 2,858,900 |
| Engineering | 2,731,100 |
| Cable & Electrical Goods | 2,484,500 |
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