PSX Closing Bell: Jumpin' Jack Flash

December 01, 2020 (MLN): Bulls continued to stay in the driving seat today at the Pakistan Stock Exchange on anticipation of easing CPI for November 20.

According to the closing note by Aba Ali Habib Securities, the market has been sustaining the bullish trend on the back of positive international cues and positive development on the global oil outlook. OPEC+ ministers drop signals that there may be consensus on the extension of current supply cuts well into 2021, which may provide further support to oil prices.

In addition, the cement sector saw a positive trend as participants expect the impact of rising coal prices to be passed onto consumers.

Accordingly, the benchmark KSE-100 index recorded an increase of 596 points and ended the session at 41,665.27 level. This is the highest index close since October 26, 2020

The Index traded in a range of 651.13 points or 1.59 percent of the previous close, showing an intraday high of 41,716.15 and a low of 41,065.02.

Of the 96 traded companies in the KSE100 Index 84 closed up 10 closed down, while 2 remained unchanged. Total volume traded for the index was 299.84 million shares.

Sectors propping up the index were Power Generation & Distribution with 121 points, Commercial Banks with 78 points, Cement with 54 points, Fertilizer with 54 points and Oil & Gas Exploration Companies with 36 points.

The most points added to the index was by HUBC which contributed 110 points followed by ENGRO with 32 points, PAKT with 28 points, MEBL with 23 points and UNITY with 20 points.

Sector wise, the index was let down by Insurance with 4 points, Synthetic & Rayon with 1 points, Refinery with 1 points and Modarabas with 1 points.

The most points taken off the index was by JLICL which stripped the index of 11 points followed by NESTLE with 5 points, BAFL with 3 points, SCBPL with 2 points and FML with 2 points.

All Share Volume increased by 101.08 Million to 489.63 Million Shares. Market Cap increased by Rs.94.84 Billion.

Total companies traded were 393 compared to 368 from the previous session. Of the scrips traded 281 closed up, 84 closed down while 28 remained unchanged.

Total trades increased by 27,936 to 150,135.

Value Traded increased by 5.42 Billion to Rs.19.48 Billion

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