PSX Closing Bell: Second Wave of Optimism?

November 26, 2020 (MLN): Inertia from the previous session inspired a buoyant open in today’s trading session fuelled by the recent surge in oil prices amid a surprise decline in US crude inventories and positive developments on the coronavirus vaccine front.

After a good run, the benchmark KSE-100 index concluded the trading session with the gain of 653.49 points to close at 41,031-level i.e. 1.61% higher than the previous closing.

According to the closing note by Arif Habib Limited, the index was again led by E&P stocks in the beginning, but following the dip in international crude oil prices during the active session, E&P stocks also saw a reversion.

The Index remained positive throughout the session touching an intraday high of 41,128.51

Of the 95 traded companies in the KSE100 Index, 79 closed up 12 closed down, while 4 remained unchanged. The total volume traded for the index was 248.72 million shares.

Sectors propping up the index were Cement with 150 points, Oil & Gas Exploration Companies with 89 points, Commercial Banks with 65 points, Technology & Communication with 50 points and Power Generation & Distribution with 42 points.

The most points added to the index was by LUCK which contributed 38 points followed by TRG with 32 points, PPL with 32 points, HUBC with 32 points and MLCF with 30 points.

Sector wise, the index was let down by Tobacco with 2 points.

The most points taken off the index was by DAWH which stripped the index of 5 points followed by SCBPL with 3 points, PMPK with 2 points, UBL with 2 points and ICI with 2 points.

All Share Volume increased by 147.25 Million to 389.19 Million Shares. Market Cap increased by Rs.91.78 Billion.

Total companies traded were 405 compared to 378 from the previous session. Of the scrips traded 304 closed up, 74 closed down while 27 remained unchanged.

Total trades increased by 45,920 to 141,561.

Value Traded increased by 6.19 Billion to Rs.16.03 Billion

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