KSE-100 up 531 points on Dar rumors

September 26, 2022 (MLN): KSE-100 benchmark index gained 531.33 points (1.31%) from the last close as the market reacted positively to the news of Miftah Ismail’s resignation and the likelihood of Ishaq Dar becoming the new finance minister.

In terms of sectors, most of the positive contributors were technology, power gencos, cement, oil & gas, and commercial banks which cumulatively contributed 368.33 points to the total intraday gain. On the flip side, oil and gas exploration companies closed the session in red, losing 14.77 points by the day’s end.

The market witnessed a significant increase in overall trading volumes as the participation was higher from investors who wanted to take advantage of the positive sentiment. By the session’s end, the total volumes of the KSE-100 index stood at 139 million shares, up 53% from 91mn shares traded in Friday’s session.

Meanwhile, the volume leaders on the benchmark index were TRG (27.4mn), CNERGY (17.4mn), UNITY (15.4mn), KEL (15.2), and MLCF (8.3mn).

The scrips which gained the most during the session included: PAKT (6.96%), COLG (0.61%), NRL (5.43%), MTL (1.25%), and ICI (1.49%). On the other hand, the stocks that emerged as net losers during the day included NESTLE (down 1.84%), ATLH (3.18%), POL (1.87%), MARI (0.4%), and POML (1.9%).

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