KSE – 100 regains 192 points on the back of strong gains within Cement sector

After resting for two days straight, capital markets picked up pace today on the backs of Cement sector, specifically Lucky Cement that gained Rs.14.14, and contributed 38.39 points to the index.

As the new incumbents prepare for the oath taking ceremony, investors remained cautious today, causing the KSE – 100 to trade in a narrow range. Travelling in a range of 264 points, the index advanced to an intraday high of 42,960 points and dropped to an overall low of 42,696 points, during the session.

The index however experienced an overall bullish trend during the day after gaining 192 points to conclude the session at 42,923 points, up by 0.45% from its previous closing.

The volume of shares traded today exceeded yesterday’s volume by 15% as the companies listed in the KSE – 100 index witnessed trading activity of 107.4 million shares at a value of PKR 8 billion today.

Among the companies that contributed positively to the 100 – index, the ones leading the gains included those within the Cement sector and the Fertilizer sector as these sectors collectively contribute around 150 points to the index. Moreover, textile performed well today on account of the news regarding upcoming government’s plan to introduce a textile package to provide relief to the sector.

Oil & Gas Exploration Companies, on the other hand, took 39 points from KSE – 100 index, thus ending up as the net losers of the day.

In total, 94 companies traded within KSE – 100 today, of which 56 companies advanced, 34 companies declined and 4 companies remained unchanged, by the day end.

Meanwhile, the broader KSE All Share Index gained 34 points by the day end, to close the session at 30,944 points. The intraday high was recorded at 31,043 points while the low was recorded at 30,891 points by the day end.

The scripts constituting KSE All Share Index traded 206.2 million shares today, hence exceeding yesterday’s traded volume by 7.65%. The value of shares traded today summed up to a worth of PKR 10.4 billion, up by 15.5% from the day before.

Cement led the sector turnover within the broader KSE, having traded 31.8 million shares today.

Among the scripts trading at the Karachi Stock Exchange today, 209 closed the day positively while 128 closed negatively.

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NET LOSERS:

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Posted on: 2018-08-09T17:53:00+05:00

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