Closing Bell: The benchmark forms bullish bars

October 07, 2019 (MNL): The upward momentum continued today as the Benchmark Index gained 603 points and closed at 33,636 points, marking an increase of 1.83% from Friday’s closing.

Trading floor witnessed the highest volume since Oct 28, 2018. One of the major reasons was positive sentiments emanated from the PM’s visit to China which they believed will bring positive outcome for Pakistan.

Other reasons were PKR’s stability and investors’ confidence on a highly anticipated meeting of COAS with business community.

The Index traded in a range of 901.99 points or 2.73 percent of previous close, showing an intraday high of 33,850.28 and a low of 32,948.29.

Of the 98 traded companies in the KSE100 Index 82 closed up 14 closed down, while 2 remained unchanged. Total volume traded for the index was 247.15 million shares.

Sectors propping up the index were Commercial Banks with 198 points, Oil & Gas Exploration Companies with 103 points, Cement with 67 points, Fertilizer with 54 points and Oil & Gas Marketing Companies with 45 points.

The most points added to the index was by PPL which contributed 45 points followed by BAHL with 40 points, LUCK with 37 points, UBL with 35 points and FFC with 33 points.

Sector wise, the index was let down by Tobacco with 36 points.

The most points taken off the index was by PAKT which stripped the index of 25 points followed by PMPK with 11 points, COLG with 11 points, EFUG with 7 points and EFERT with 4 points.

All Share Volume increased by 130.34 Million to 392.16 Million Shares. Market Cap increased by Rs.72.06 Billion.

Total companies traded were 422 compared to 387 from the previous session. Of the scrips traded 321 closed up, 84 closed down while 17 remained unchanged.

Total trades increased by 23,445 to 103,415.

Value Traded increased by 2.64 Billion to Rs.10.11 Billion

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