KSE-100 soars 629 points


Zubair Yaqoob


Market increased significantly today after a bearish session yesterday. All in all, the index surged by 680pts after an initial draw down of 80pts in the morning.
Buying activity was observed across the board, but mainly concentrated in Fertilizer, Banks and E&P Sectors. International crude prices stayed above the levels seen yesterday, which attracted investors to invest in Oil & Gas sector scrips.
Besides, yesterday’s auction of PIBs helped investors take a view on interest rate, which yielded positively on stocks.
Chemical sector led the volumes table with 19.3M shares, followed by Technology (16.2M) and Cement (14.4M). Among scrips, LOTCHEM garnered 15.5M shares followed by PIBTL (8M) and TRG (7.8M).
The Index closed at 32,184pts as against 31,555pts showing an increase of 629pts (+2% DoD). Sectors contributing to the performance include Fertilizer (+129pts), Banks (+86pts), Power (+82pts), E&P (+74pts) and Cement (+53pts). Volumes increased significantly from 99.4mn shares to 136.5mn shares (+37% DOD). Average traded value also increased by 48% to reach US$ 37.7mn as against US$ 25.4mn. Stocks that contributed significantly to the volumes include LOTCHEM, PIBTL, TRG, MLCF and KEL, which formed 34% of total volumes.
Stocks that contributed positively include ENGRO (+81pts), HUBC (+70pts), LUCK (+36pts), PPL (+35pts) and HBL (+32pts). Stocks that contributed negatively include FABL (-3pts), AKBL (-1pts), ICI (-1pts), LOTCEHM (-1pts), and BWCL (-1pts).

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