September 9, 2021 (MLN): Following three consecutive negative sessions, the bourse took on a bullish course in today’s session, leading the KSE-100 benchmark index with 228 points gain to close at 46,625 level, up by 0.5% from yesterday’s close.
The rebound was backed by the Technology and Banking stocks amid higher interest seen in the book building of Octopus Digital and attractive valuation in the Banking sector.
Octopus Digital scored high on the first day of its IPO, where the target quantity was met in the first 24 mins after the opening of the bidding session, whereas the total bid size against issue size of 27.35M shares crossed 6x on the first day. This helped AVN hit the upper circuit, which is the parent company of Octopus digital, a report by Arif Habib Limited cited.
However, index heavyweights MCB, HBL, and LUCK witnessed selling pressure today post downgrade of Pakistan from MSCI EM to MSCI FM index.
On the announcement front, Pak Petroleum Limited (PPL) announced a hydrocarbon discovery from an exploratory well, Jugan-1 in Latif Block. PPL holds a 33.30% working interest, Eni Pakistan Limited 33.30% & UEPL (Operator) holds 33.40% working interest in the Block.
The Index remained positive throughout the session touching an intraday high of 46,662.44
Of the 97 traded companies in the KSE100 Index 55 closed up 38 closed down, while 4 remained unchanged. Total volume traded for the index was 90.61 million shares.
Sectors propping up the index were Technology & Communication with 57 points, Commercial Banks with 49 points, Miscellaneous with 37 points, Fertilizer with 36 points and Oil & Gas Exploration Companies with 31 points.
The most points added to the index was by PSEL which contributed 42 points followed by TRG with 34 points, MEBL with 32 points, SYS with 28 points and ENGRO with 24 points.
Sector wise, the index was let down by Cement with 44 points, Insurance with 11 points, Tobacco with 8 points, Refinery with 4 points and Textile Composite with 4 points.
The most points taken off the index was by LUCK which stripped the index of 42 points followed by HBL with 18 points, PAKT with 8 points, CHCC with 7 points and PSX with 5 points.
All Share Volume decreased by 81.43 Million to 396.43 Million Shares. Market Cap increased by Rs.10.22 Billion.
Total companies traded were 525 compared to 524 from the previous session. Of the scrips traded 252 closed up, 245 closed down while 28 remained unchanged.
Total trades increased by 575 to 136,169.
Value Traded increased by 1.84 Billion to Rs.16.54 Billion
| Company | Volume |
|---|---|
| Ghani Global Holdings | 56,821,000 |
| Telecard | 41,117,500 |
| Worldcall Telecom | 20,386,000 |
| TPL Corp | 16,766,000 |
| Service Fab(R) | 16,043,000 |
| TPL Properties | 12,731,500 |
| Ghani Global Glass | 12,623,000 |
| Kohinoor Spinning Mills | 12,400,500 |
| Avanceon | 9,602,500 |
| Citi Pharma Ltd. | 8,759,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 111,179,741 |
| Chemical | 63,602,630 |
| Textile Weaving | 20,827,500 |
| Food & Personal Care Products | 19,855,443 |
| Glass & Ceramics | 19,817,200 |
| Commercial Banks | 19,282,299 |
| Cement | 19,146,027 |
| Miscellaneous | 17,495,050 |
| Textile Spinning | 16,277,600 |
| Pharmaceuticals | 12,112,102 |
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