KSE-100 Index crosses key 80,000 level

News Image

MG News | September 18, 2024 at 10:44 AM GMT+05:00

0:00

September 18, 2024 (MLN): Pakistan's stock market continued its upward momentum on Wednesday largely uplifted by index heavyweight Mari Petroleum.

The benchmark KSE-100 Index jumped 532.82 points or 0.67% to 80,023.95 as of 10:40am. 

The index has gained 1,579 points or 2.01% since July, and a significant 17,573 points or 28.14% so far this year.

Top gainers during the day were MARI (+10.00%), GADT (+5.06%), EFUG (+4.34%), SHFA (+4.29%), and SRVI (+4.23%).

The country's major oil and gas exploration company Mari Petroleum saw its shares surge 10% for the second consecutive session following a substantial 1,340% dividend and 800% bonus shares issuance.

Such a large bonus issue can help attract smaller investors as it reduces share price by redistributing the amount of equity across a larger number of shares. It is worth noting that it does not change the overall valuation of the company.

It also provides a psychological boost to investors.

In terms of index-point contributions, companies that propped up the index were MARI (+324.69pts), MEBL (+47.46pts), SRVI (+32.06pts), LUCK (+23.01pts), and PSO (+13.92pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+350.63pts), Commercial Banks (+57.41pts), Cement (+39.14pts), Leather & Tanneries (+32.06pts), and Oil & Gas Marketing Companies (+28.71pts).

In the broader market, the All-Share Index was at 51,648.14 with a net gain of 405.09 points or 0.79%.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg