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 170,478.94
174.95M
-0.41%
-696.57
ALLSHR 102,885.54
725.60M
-0.29%
-297.60
KSE30 50,877.61
79.52M
-0.67%
-344.88
KMI30 243,917.86
73.26M
-0.62%
-1524.88
KMIALLSHR 66,743.35
311.96M
-0.35%
-234.16
BKTi 46,317.47
21.24M
-0.81%
-377.00
OGTi 35,218.63
5.39M
-1.33%
-473.03
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 61,585.00 62,405.00
59,600.00
1070.00
1.77%
BRENT CRUDE 92.78 95.90
92.67
-2.25
-2.37%
RICHARDS BAY COAL MONTHLY 122.00 122.00
121.00
-0.75
-0.61%
ROTTERDAM COAL MONTHLY 134.35 138.25
134.00
0.30
0.22%
USD RBD PALM OLEIN 1,157.50 1,157.50
1,157.50
0.00
0.00%
CRUDE OIL - WTI 90.25 93.63
89.68
-2.79
-3.00%
SUGAR #11 WORLD 14.12 14.50
14.09
-0.15
-1.05%

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