Closing Bell: Stock market gets shot of adrenaline

December 24, 2019 (MLN): At last stocks witnessed a bounce today after yesterday’s dismal performance. The stocks opened on a negative note and observed volatile trading throughout the session. However, later on, the positive sentiments dominated the market and index climbed by 320 points to close at 40,328 level as the market rebounded from technical support at around 39,450 points.

The stocks finished higher following a satisfying performance from the energy sector by session end especially OGDC which traded near the upper circuit.

The Index traded in a range of 1034.62 points or 2.59 per cent of the previous close, showing an intraday high of 40,489.41 and a low of 39,454.79.

Of the 90 traded companies in the KSE100 Index, 65 closed up 24 closed down, while 1 remained unchanged. Total volume traded for the index was 135.30 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 91 points, Oil & Gas Marketing Companies with 36 points, Power Generation & Distribution with 34 points, Cement with 32 points and Fertilizer with 26 points.

The most points added to the index was by OGDC which contributed 51 points followed by HUBC with 28 points, PPL with 23 points, LUCK with 22 points and SNGP with 18 points.

Sector-wise, the index was let down by Miscellaneous with 8 points, Commercial Banks with 3 points, Textile Spinning with 2 points, Automobile Parts & Accessories with 1 point and Real Estate Investment Trust with 1 point.

The most points taken off the index was by BAHL which stripped the index of 20 points followed by UBL with 10 points, SHFA with 7 points, BAFL with 5 points and EFUG with 4 points.

All Share Volume increased by 57.13 Million to 236.22 Million Shares. Market Cap increased by Rs.58.78 Billion.

Total companies traded were 358 compared to 342 from the previous session. Of the scrips traded 213 closed up, 124 closed down while 21 remained unchanged.

Total trades increased by 13,814 to 79,555.

Value Traded increased by 1.79 Billion to Rs.8.75 Billion

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