Closing Bell: What a way to close a day

December 26, 2019 (MLN): Similar to the last session, the bullish momentum continued to be witness in today’s trading session and bulls capitalized the opportunity and surpassed 41,000 points level by gaining 799 points to settle at 41,127 points.

The primary factor that helped the bulls in maintaining positive momentum through out the day was the buying activity performed by the financial institutions to raise the value of their portfolios.

As per the closing note by Arif Habib Limited, market moved up significantly due to year end closing that requires financial institutions to manage the equity portfolios to avoid impairments.

The Index remained positive throughout the session touching an intraday high of 41,148.39

Of the 95 traded companies in the KSE100 Index 78 closed up 14 closed down, while 3 remained unchanged. Total volume traded for the index was 132.02 million shares.

Sectors propping up the index were Commercial Banks with 360 points, Oil & Gas Exploration Companies with 140 points, Oil & Gas Marketing Companies with 54 points, Power Generation & Distribution with 44 points and Inv. Banks / Inv. Cos. / Securities Cos. with 35 points.

The most points added to the index was by HBL which contributed 119 points followed by OGDC with 70 points, UBL with 56 points, BAHL with 51 points and PPL with 44 points.

Sector wise, the index was let down by Tobacco with 36 points and Miscellaneous with 1 points.

The most points taken off the index was by PAKT which stripped the index of 36 points followed by EFUG with 10 points, MUREB with 3 points, SCBPL with 2 points and INDU with 2 points.

All Share Volume increased by 0.61 Million to 236.83 Million Shares. Market Cap increased by Rs.94.55 Billion.

Total companies traded were 370 compared to 358 from the previous session. Of the scrips traded 280 closed up, 74 closed down while 16 remained unchanged.

Total trades decreased by 5,869 to 73,686.

Value Traded decreased by 0.80 Billion to Rs.7.95 Billion

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