KSE-100 Index crosses key 80,000 level

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

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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
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167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
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217.03M
0.03%
16.37
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3.93M
-0.09%
-23.70
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Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,120.00 118,120.00
117,905.00
500.00
0.43%
BRENT CRUDE 73.47 73.63
71.75
0.96
1.32%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
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-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 70.21 70.33
70.18
0.21
0.30%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

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