May 24, 2021 (MLN): The capital markets spurred on the first trading session of the week as investors cheered the revised GDP projection at 3.94% for the current fiscal year 2020-21.
The benchmark KSE-100 Index gained almost 400 points earlier in the session, taking cues from the surprise GDP growth rate projected by the National Account Committee (NAC) before leveling off some gains to settle the day at 46,097.11 level with the gain of 182.13 points.
The bullish momentum was also supported by domestic news flow that suggested the government may be formulating a populist budget proposal to keep the personal income taxes and power tariffs unchanged, the closing note by Aba Ali Habib said.
Furthermore, market expectations on the upcoming monetary policy meeting scheduled for 28th of May also added to elevated volumes during the day, it added.
The Index remained positive throughout the session touching an intraday high of 46,314.39
Of the 97 traded companies in the KSE100 Index 64 closed up 31 closed down, while 2 remained unchanged. Total volume traded for the index was 191.70 million shares.
Sectors propping up the index were Cement with 87 points, Commercial Banks with 42 points, Automobile Assembler with 36 points, Fertilizer with 26 points and Chemical with 22 points.
The most points added to the index was by SYS which contributed 24 points followed by MTL with 23 points, PPL with 21 points, MLCF with 21 points and COLG with 20 points.
Sector wise, the index was let down by Technology & Communication with 22 points, Power Generation & Distribution with 16 points, Oil & Gas Marketing Companies with 14 points, Inv. Banks / Inv. Cos. / Securities Cos. with 9 points and Tobacco with 6 points.
The most points taken off the index was by TRG which stripped the index of 43 points followed by HUBC with 12 points, PSO with 12 points, MARI with 8 points and SEARL with 7 points.
All Share Volume increased by 56.21 Million to 766.64 Million Shares. Market Cap increased by Rs.37.25 Billion.
Total companies traded were 408 compared to 408 from the previous session. Of the scrips traded 242 closed up, 149 closed down while 17 remained unchanged.
Total trades increased by 7,976 to 177,018.
Value Traded increased by 0.28 Billion to Rs.19.93 Billion
| Company | Volume |
|---|---|
| Worldcall Telecom | 275,888,000 |
| Silkbank | 36,611,500 |
| Summit Bank | 36,491,000 |
| Hascol Petroleum | 22,496,873 |
| Fauji Foods | 22,318,000 |
| Unity Foods | 20,855,367 |
| Byco Petroleum Pakistan | 20,780,000 |
| TRG Pakistan | 18,264,259 |
| Telecard | 18,260,000 |
| Pace (Pakistan) | 15,074,500 |
| Sector | Volume |
|---|---|
| Technology & Communication | 351,608,659 |
| Commercial Banks | 88,503,123 |
| Food & Personal Care Products | 47,720,777 |
| Refinery | 31,284,900 |
| Cement | 29,393,797 |
| Oil & Gas Marketing Companies | 28,775,218 |
| Inv. Banks / Inv. Cos. / Securities Cos. | 25,343,961 |
| Chemical | 21,295,620 |
| Miscellaneous | 20,303,500 |
| Power Generation & Distribution | 17,552,058 |
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