Thursday, May 26, 2022

KSE 100 index crosses 40000 on mini budget expectations


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]
KSE 100 index surged 155 points or (0.39%) on Wednesday closed at 40,057 Market went up again, going by the trend and expecting positive outcome from the mini-budget.


Analysts at Arif Habib Limited said that the volumes increased significantly and foreign buying was also observed that helped boost the morale of investors.


Early part of the session, as well as, last hour generated some excitement. Sectors and scrips that remained the center of attraction for the investors were Banking (HBL & UBL), Chemical (NRSL & LOTCHEM) and Power (KEL) that led the volume tables.


Banks garnered 29M volume, followed by Chemical that realized a volume of 24M shares.


The Index closed at 40,058pts as against 39,902pts showing an increase of 156pts (+0.4% DoD). Sectors contributing to the performance include Banks (+80pts), Autos (+32pts), O&GMCs (+27pts), Power (+20pts) and Pharma (+12pts).


Volumes increased significantly from 136.8mn shares to 178.9mn (+31% DoD). Average traded value, however, increased by 8% reaching US$ 52.8mn as against US$ 49mn.


Stocks that contributed significantly to the volumes include KEL, BOP, TRG, PAEL and NRSL, which formed 31% of total volumes.


Stocks that contributed positively include HBL (+48pts), ENGRO (+27pts), HUBC (+20pts), UBL (+16pts), and OGDC (+12pts). Stocks that contributed negatively include FFC (-15pts), EFERT (-8pts), FFBL (-6pts), PPL (-5pts) and POL (-3pts).



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