KSE-100 opens week on a terrific note, rejoices third day in green

February 4, 2019 (MLN): The KSE-100 index opened the week on a terrific note, as it marked its stay in green for the third consecutive day, after gaining 501 points by the end of today’s trading session and closing at 41,614 points, depicting a growth of 1.22% from previous session’s closing.

Throughout the trading session, the index went as high as 41,630 points, marking another significant achievement of moving beyond 41,600 mark. The positive sentiments continued to emanate from foreign investment flowing into the country, allowing the index to remain headstrong against any negative triggers arising out of down gradation of Pakistan from ‘B’ to ‘B-’ by S&P.

The gains were mainly driven by the Cement sector, which contributed around 129 points to the benchmark index. Within the sector, scrips of DGKC (5.0%), MLCF (+5.0%) and LUCK (+4.7%) traded at their finest on the back of declining international coal prices.

The E&P sector took the second lead in terms of adding maximum points to the index. While the overall sector contributed 84 points, the companies benefiting most within the sector comprised of POL (+2.1%), PPL (+1.3%) and OGDC (+1.3%).

Besides, nearly 138 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs 7.8 billion.

The broader KSE All Share index also celebrated its victory in the green, as it crossed the 30,000 border by gaining around 281 points and closing at 30,107 points. It traded nearly 254 million shares today, having a value at Rs 9.8 billion.

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