Tuesday, April 7, 2020

KSE 100 slightly up by 62 points

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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 slightly moved up 62 points or (0.16%) closed at 39, 306 on Friday.

Market opened on a positive note and the volume improved in the first session that crossed 70M. The Index oscillated between -152pts and +147pts during the day.

 

Significant volumes were seen in KEL with a total volume of 55.9M shares (36% of the total traded volume), on the expectation of deal conclusion with Shanghai Electric.

 

Selling pressure was mainly observed in E&P, Banking, Cement and O&GMCs sector.

 

Analysts at Arif Habib Limited said that the market largely performed on the expected changes in the upcoming mini-budget that is likely to offer good news for some sectors.

 

The Index closed at 39,306pts as against 39,244pts showing an increase of 63pts (+0.2% DoD).

 

Sectors contributing to the performance include Fertilizer (+45pts), Power (+29pts), Chemical (+11pts), Insurance (+5pts), Banks (-20pts), and Cement (-19pts).

 

Volumes increased from 104.5mn shares to 154.8mn shares (+48% DoD). Average traded value however, declined by 5% to reach US$ 36.8mn as against US$ 38.7mn.

 

Stocks that contributed significantly to the volumes include KEL, TRG, UNITY, PAEL and SSGC, which formed 55% of total volumes.

 

Stocks that contributed positively include FFC (+29pts), KEL (+18pts), EPCL (+11pts), FFBL (+11pts), and HUBC (+10pts).

 

Stocks that contributed negatively include HBL (-20pts), UBL (-11pts), NESTLE (-9pts), PPL (-9pts) and LUCK (-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]

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