Sunday, January 24, 2021

Equity market soars on MPS, company’s results

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
The benchmark KSE 100 of Pakistan Stock Exchange surged 192 points or (0.47%) settled at 40,799.2 on Thursday on companies results and MPS.

 

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Analysts at Arif Habib Limited said that the market gained by a good margin on Thursday after a lull in the past couple of sessions. Positive expectation from monetary policy, later made the investors take positive bets and bought in good numbers.

 

For good part of the day, the volume was tilted more in favour of small and mid-caps, however, activity in blue chips started picking pace as result announcements were made for FFC, LUCK, EPCL, all of which were construed to be positive by the investors. Sectors leading the volumes include Technology (WTL), Transport (PIBTL) and Chemical (EPCL).

 

The Index closed at 40,800pts as against 40,607pts showing an increase of 192pts (+0.5% DoD).

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Sectors contributing to the performance include Pharma (+46pts), Fertilizer (+39pts), O&GMCs (+32pts), Banks (+29pts), Autos (+27pts), Tobacco (-36pts) and E&P (-18pts).

 

Volumes almost doubled from 125mn shares to 239mn shares (+91% DoD). Average traded value also increased substantially from US$ 35.8mn to US$ 63mn (+76% DoD).

 

Stocks that contributed significantly to the volumes include PIBTL, WTL, PAEL, EPCL and DCL, which formed 34% of total volumes.

 

Stocks that contributed positively include DAWH (+30pts), SEARL (+21pts), PIBTL (+19pts), POL (+16pts), and FFC (+14pts).

 

Stocks that contributed negatively include PAKT (-36pts), MARI (-26pts), ICI (-10pts), ENGRO (-10pts) and OGDC (-8pts).

 

 

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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