KSE-100 Index crosses key 80,000 level

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

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%.

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Name Price/Vol %Chg/NChg
KSE100 179,571.27
436.67M
1.06%
1878.35
ALLSHR 108,600.94
844.23M
1.00%
1073.54
KSE30 53,548.42
162.02M
0.99%
525.53
KMI30 256,725.70
154.74M
0.76%
1936.43
KMIALLSHR 70,620.69
563.61M
0.98%
683.55
BKTi 48,625.03
36.31M
1.37%
658.39
OGTi 37,179.52
8.29M
0.94%
345.85
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 60,205.00 60,900.00
58,505.00
770.00
1.30%
BRENT CRUDE 71.89 75.13
71.38
-3.37
-4.48%
RICHARDS BAY COAL MONTHLY 115.00 0.00
0.00
1.65
1.46%
ROTTERDAM COAL MONTHLY 126.25 0.00
0.00
0.15
0.12%
USD RBD PALM OLEIN 1,135.00 1,135.00
1,135.00
0.00
0.00%
CRUDE OIL - WTI 69.27 71.86
68.56
-2.65
-3.68%
SUGAR #11 WORLD 14.55 14.68
14.02
0.45
3.19%

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