Closing Bell: Raging Bulls

July 13, 2020 (MLN): The benchmark KSE-100 index observed another winning streak on Monday, marking a rally for the 12^th consecutive session as the index surged 428 points today to settle at 36,618 points.

According to closing note by Aba Ali Habib Securities, the investors cherished PM’s directives to the banks to allocate PKR 330bn for housing sector; government also invited investors to avail tax incentives and relaxation of no-question about source of income.

Moreover, the government had allocated PKR 30bn subsidy for Naya Housing Program wherein each first 0.1mn unit would get 0.3mn subsidy which further augmented investors’ sentiments, the note added.

The Index remained positive throughout the session touching an intraday high of 36,724.62

Of the 97 traded companies in the KSE100 Index 64 closed up 32 closed down, while 1 remained unchanged. Total volume traded for the index was 324.38 million shares.

Sectors propping up the index were Cement with 163 points, Oil & Gas Marketing Companies with 56 points, Oil & Gas Exploration Companies with 50 points, Commercial Banks with 37 points and Automobile Assembler with 31 points.

The most points added to the index was by LUCK which contributed 57 points followed by PSO with 42 points, DGKC with 34 points, MEBL with 21 points and CHCC with 19 points.

Sector wise, the index was let down by Power Generation & Distribution with 9 points, Miscellaneous with 7 points, Insurance with 6 points, Tobacco with 6 points and Leather & Tanneries with 3 points.

The most points taken off the index was by PSEL which stripped the index of 7 points followed by EFUG with 6 points, PAKT with 6 points, HUBC with 5 points and BOP with 5 points.

All Share Volume increased by 176.20 Million to 468.91 Million Shares. Market Cap increased by Rs.65.47 Billion.

Total companies traded were 403 compared to 358 from the previous session. Of the scrips traded 236 closed up, 151 closed down while 16 remained unchanged.

Total trades increased by 52,268 to 150,190.

Value Traded increased by 8.97 Billion to Rs.18.56 Billion

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