Thursday, November 14, 2019

KSE-100 crosses 41,000 on policy rate

Featured

Trump said: Sondland is great American now President’s famous ‘U-turn’

President Donald Trump has a history of distancing himself from associates who have found themselves in legal trouble or...

Babri mosque: Indian Supreme Court ruled in favor of Hindus in a dispute over a religious position with Muslims

India's Supreme Court on Saturday ruled in favor of a Hindu group in a long-running legal battle over a...

France Visa: New point-based skilled immigrant program to be enforced by summer 2020

France will introduce new point-based skilled immigrant program (France Visa), will come to force by summer 2020. French government...
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 index of Pakistan Stock Exchange (PSE) added 313 points or (0.77%) closed at 41,112.71 on Friday. Market increased further from Thursday’s closing. Increase in policy rate was largely considered a signal to enter shortly in the IMF program, also a nominal increase of 25bps assured investors that the impact on earnings will be only marginal in nature and will have less of an impact on corporate earnings.

 

Analysts at Arif Habib Limited said that the volumes were led by Banking sector scrips, among which BOP fared 33M shares out of total sector volume of 44M.

 

Engineering Sector (Steel) performed well today, resulting in trading close to upper circuit of majority scrips in Steel sector.

 

Contrary to past few sessions, blue chip scrips remained in the lime light and investors took interest in buying HBL and UBL.

 

The Index closed at 41,113pts as against 40,800pts showing an increase of 313pts (+0.8% DoD).

 

Sectors contributing to the performance include Banks (+199pts), Cement (+59pts), Engineering (+25pts), Food (+15pts), O&GMCs (+14pts) and Fertilizer (-17pts).

 

Volumes remained strong consecutively at 229mn shares as against 240mn shares yesterday (-5% DoD). Average traded value declined by 3% to reach US$ 61.3mn as against US$ 63.3mn.

 

Stocks that contributed significantly to the volumes include BOP, DSL, PAEL, PASL and PIBTL, which formed 35% of total volumes.

 

Stocks that contributed positively include BAHL (+61pts), UBL (+40pts), LUCK (+39pts), HBL (+22pts), and PPL (+22pts).

 

Stocks that contributed negatively include DAWH (-13pts), OGDC (-7pts), SEARL (-7pts), FFC (-6pts) and EPCL (-6pts).

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

Trump’s removal measures: US Poll reveals support for 50 percent of Americans to the House of Representatives

The Politico Foundation released the results of a US Poll in conjunction with Trump's impeachment measures, revealing that 81%...

New UK Guidelines on EU Citizens residence

Britain is threatening to deport EU citizens if they do not apply in time for a new immigration status after Britain leaves the bloc...

US appeals court upholds decision to disclose Trump’s financial records

Trump's financial records: A US appeals court said on Wednesday it would not review an October decision ordering President Donald Trump's accounting firm to...

Ukrainian president offers 10 percent bonus for bribery and corruption reporting

Ukrainian President Volodymyr Zelensky has signed a law to pay 10 percent of confiscated money to those reporting corruption-related crimes to the authorities. The Ukrainian...

Morales condemns US recognition of the new government in Bolivia

Bolivia's former president, Evo Morales on Wednesday denounced the United States' recognition of his country's self-proclaimed "de facto" government since he left the country. The...
- Advertisement -

Related News