Monday, February 24, 2020

KSE 100 scores 363 points on CGT relief hint

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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 rose to 363.47 points or 0.93% closed at 39,412 on Monday.  Market had a positive start of the week, on the back of budgetary measures adopted by the Government due to be announced on January 23rd, 2019. As per the recent press briefing conducted by Finance Minister, positive impact is anticipated for the stock brokers hinting relief on CGT.

Market remained largely positive across the board and buying was observed in Technology, Cable, Power and Chemical sectors. Leading stocks on the volumes chart were PAEL, KEL, TRG and LOTCHEM that covered almost 35% of the total market volume.

The Index closed at 39,413pts as against 39,049pts showing an increase of 364pts (+0.9% DoD). Sectors contributing to the performance include Banks (+80pts), Fertilizer (+65pts), Cement (+54pts), Pharma (+39pts) and O&GMCs (+27pts).

According to the analysts at Arif Habib Limited, volumes declined from 123.5mn shares to 115.3mn (-7% DoD). Average traded value also declined by 14% to reach US$ 39.5mn as against US$ 45.8mn.

Stocks that contributed significantly to the volumes include PAEL, KEL, TRG, LOTCHEM and BOP, which formed 38% of total volumes.

Stocks that contributed positively include FFC (+43pts), PPL (+33pts), LUCK (+25pts), UBL (+23pts), and HBL (+21pts). Stocks that contributed negatively include POL (-13pts), MTL (-10pts), BAHL (-8pts), MARI (-8pts) and OGDC (-5pts).

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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