Closing Bell: The subtle art of turning the corner!

April 25, 2019 (MLN): The KSE-100 index closed the session on a superior note as it gained 291 points in today’s session, and closed at 36,796 points. The trading floors turned into a darker shade of green on the back of Prime Minister’s visit to China, where he is expected to address the Belt and Road Forum.

The trading was suspended earlier in the day, owing to some technical glitches identified in the Trading System of Exchange, where more than 25 brokerage houses were unable to access the Trading Network. However, the issue was resolved soon after and the market timings were extended by 30 minutes.

Commercial Banks emerged as the top gainers as they contributed around 227 points to the index. This is because several banks that issued their financial results today, performed better than market expectations.

The second in line was Fertilizer sector, as it contributed around 76 points to the benchmark index.

The scrips that significantly influenced the benchmark index’s performance included HBL (+3.85%), UBL (+3.22%), ENGRO (+2.03%), BAHL (+2.50%) and DAWH (+3.26%).

The bourse observed trading of 84 million shares of the listed scrips, which had a total value of Rs. 3.9 billion. Engulfed within a range of 440 points, the index touched an intraday high of 36,944 points and an intraday low of 36,504 points. 

Congruently, the broader KSE All Share index gained around 96 points and closed the session at 26,749 points. It traded nearly 106 million shares, having a value of Rs. 4.2 billion.

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