Closing Bell: Resistance is Futile!

November 11, 2019 (MLN): The KSE-100 index ended the trading session on Monday with an 824.94 point or 2.29 percent gain to close at 36,803.10-level, i.e. perhaps the highest level since April 29, 2019.

It is prudent to mention that the benchmark index has gained around 3,041 points since October 30, 2019, which translates into a gain of 9.01%.

Maintaining its aggressive winning stance for the 8^th consecutive session, the index remained highly positive throughout the day, and touched an intraday high of 36,817.73.

The index has been feeding off a hoard of different factors, including the successful review of Pakistan’s economy by International Monetary Fund, wherein the latter was convinced that Pakistan had successfully met all first quarter performance criteria by good margins.

Of the 99 traded companies in the KSE100 Index 88 closed up 7 closed down, while 4 remained unchanged. Total volume traded for the index was 181.96 million shares.

Sectors propping up the index were Commercial Banks with 221 points, Oil & Gas Exploration Companies with 142 points, Power Generation & Distribution with 108 points, Cement with 82 points and Oil & Gas Marketing Companies with 71 points.

The most points added to the index was by HUBC which contributed 81 points followed by UBL with 56 points, OGDC with 52 points, HBL with 48 points and PPL with 42 points.

Sector wise, the index was let down by Tobacco with 35 points, Real Estate Investment Trust with 1 points and Miscellaneous with 1 points.

The most points taken off the index was by PAKT which stripped the index of 28 points followed by PMPK with 8 points, MUREB with 4 points, DCR with 1 point and SHFA with 1 point.

All Share Volume increased by 72.37 Million to 282.94 Million Shares. Market Cap increased by Rs.100.99 Billion.

Total companies traded were 380 compared to 370 from the previous session. Of the scrips traded 304 closed up, 59 closed down while 17 remained unchanged.

Total trades increased by 17,762 to 80,525.

Value Traded increased by 2.54 Billion to Rs.9.09 Billion

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