Sunday, May 22, 2022

KSE 100 recovers 339 points on rising crude prices


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 moved up on Thursday after sustaining losses for the past three sessions. E&P sector took cue from rising crude prices and were further helped by Iran’s taking down of US drone.

Besides the positivity in E&P sector, Cement stocks also increased on the back of recent price hikes in cement price / bag.

Total volumes hit ~163M shares, however, most of it came from Summit Bank (19M), WTL (17M), JSCL (10M) and PAEL (10M).

Technology sector led the volumes table with 29M shares, followed by Banks (24M) and Cement (22M). The Index closed at 34,996pts as against 34,656pts showing an increase of 340pts (+1% DoD).

Sectors contributing to the performance include Fertilizer (+69pts), Banks (+62pts), E&P (+44pts), Cement (+44pts) and Autos (+25pts).

Volumes increased significantly from 99.4mn shares to 163mn shares (+64% DoD). Average traded value also increased by 31% to reach US$ 28.8mn as against US$ 21.9mn.

Stocks that contributed significantly to the volumes include SMBL, WTL, JSCL, PAEL and MLCF, which formed 41% of total volumes.

Stocks that contributed positively include FFC (+21pts), EFERT (+21pts), ENGRO (+20pts), POL (+20pts) and HUBC (+19pts).

Stocks that contributed negatively include NESTLE (-14pts), PAKT (-11pts), NCPL (-3pts), JLICL (-2pts) and KAPCO (-2pts).

Read also: PSX take a breather on bulls run, KSE-100 uptick 1195 points in the wake of state fund

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