KSE-100 inclines 637 points


Zubair Yaqoob


Market opened on a positive note with +94pts although volume at start was very low. By the end of first session, the benchmark index grew by 261pts posting a volume of 36.9M shares. Second session saw significant jump in both volumes and points with an overall volume of 134.5M shares and index surging by 650pts.
The market closed +637pts (unadjusted). Besides oil chain (E&P, OMCs, Refinery), buying activity was observed in Cement sector (which had expectation of increase in Cement prices in North) and also in the Banking sector.
Cement sector led the volumes with 22.7M shares (courtesy of MLCF (13.1M) & DGKC (3.4M)), followed by Banks (20.9M) and Power (20.8M).
Among Banks, BOP traded the most with 14.4M shares and Power sector had KEL with 17.6M shares. The Index closed at 32,071pts as against 31,434pts showing an increase of 637pts (+2% DoD).
Sectors contributing to the performance include Banks (+182pts), E&P (+136pts), Power (+61pts), Fertilizer (+57pts) and Cement (+49pts). Volumes increased from 124.5mn shares to 135.1mn shares (+9% DoD).
Average traded value also increased by 20% to reach US$ 27.2mn as against US$ 22.6mn. Stocks that contributed significantly to the volumes include KEL, BOP, MLCF, WTL and PAEL, which formed 44% of total volumes. Stocks that contributed positively include HBL (+74pts), OGDC (+51pts), UBL (+46pts), PPL (+45pts) and HUBC (+39pts). Stocks that contributed negatively include AGIL (-2pts), THALL (-2pts), COLG (-1pts), SYS (-1pts), and BWCL (-1pts).

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