April 15, 2022 (MLN): The Pakistan Stock Exchange continued its bullish momentum on Friday on the back of the upcoming healthy corporate earnings season and an increase in international oil prices.
The benchmark KSE-100 Index concluded the trading session at a 46,602 level, up by 117 points or 0.25% DoD. The Index traded in a range of 301 points, showing an intraday high of 46,785.59 and a low of 46,484.43.
On weekly basis, the index recorded a gain of 4.9% or 2,157 points which has been the highest weekly gain since 2020.
Speaking to Mettis Global, Ahsan Mehanti, Director Arif Habib Group said, “The market witnessed this bullish rally due to speculations over the possible revival of IMF program, the surge in global crude oil prices, and $2.8bn record remittances in March’22.”
Of the 88 traded companies in the KSE100 Index, 51 closed up, 34 closed down, while 3 remained unchanged. The total volume traded for the index was 168.214 million shares.
Sectors propping up the index were Fertilizer with 45.66 points, Commercial banks with 37.89 points, Oil & Gas Exploration Companies with 22.32 points, Inv. Banks / Inv. Cos. / Securities Cos with 14.76 points and Oil & Gas Marketing Companies with 11.30 points.
The most points added to the index were by MEBL which contributed 29.75 points followed by ENGRO with 28.66 points, FFC with 19.36 points, HMB with 17.5 points and DAWH with 17 points.
Sector-wise, the index was let down by Technology & Communication with 29.53 points, Power Generation & Distribution with 19 points and Cement with 8.8 points.
The most points taken off the index was by HUBC which stripped the index of 23.3 points followed by BAHL with 16.6 points, TRG with 16.2 points, SYS with 13.3 points and FABL with 11.5 points.
All share market volumes fell from 494.86 million shares in the last session to 365.54 million shares.
Total companies traded were 333 compared to 343 from the previous session. Of the scrips traded, 162 closed up, 152 closed down while 19 remained unchanged.
Value Traded decreased by Rs2.55 billion to Rs9.13 billion.
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