Thursday, February 27, 2020

Equity market soars on MPS, company’s results

Featured

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to...

China: Corona virus death toll rises to 2239, and 75,567 infections

China’s National Health Committee announced on Friday that it has received reports of 889 new confirmed cases of the...

A major reshuffle in the British Government

Several British government ministers have been fired in a drastic reshuffle by Prime Minister Boris Johnson. The list includes...
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.

 

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).

 

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).

 

 

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]

Latest News

Breaking: Malaysian PM Dr Mahathir submits resignation to the King

Dr Mahathir Mohamad has sent his resignation letter as Prime Minister of Malaysia today. According to the Prime Minister's Office,...

Trump adviser Roger Stone sentenced to 3 years in prison for lying

A federal judge issued a ruling on Thursday against Roger Stone, a longtime adviser to US President Donald Trump, to three years and four...

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to purchase more US goods under...

Voting begins in Iran’s parliamentary elections

The Iranians began voting on Friday in a parliamentary election that is unlikely to change Tehran's troubled relations with the United States, after excluding...

Austrian Parliament: There is no place for ISIS operatives in the country

Herbert Kickel, head of the Parliamentary Bloc of the Freedom Party (the third largest Austrian party), confirmed that anyone who joined the terrorist group...

Related News