Wednesday, January 20, 2021

KSE-100 surges 480 points on technocrat setup

Featured

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac,...
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]

FM’s resignation gave the market the required impetus and investors showed their confidence with an increase of 917pts.

- Advertisement -

Almost everything from Banks to Steel saw healthy buying activity, which was further aided by prospects of discovery in offshore Indus, giving way to buying activity in OGDC and PPL.

BOP reversed the negative tide with the news of SBP issuing clarification regarding implementation of TSA.

Resultantly, BOP saw considerable activity at upper circuit. SNGP, which is due to consider Financials over the weekend, saw the scrip trading at an near upper circuit.

Likewise, LOTCHEM which was estimated to post lower earnings came with a positive surprise and double the market expectation. LOTCHEM also closed at upper circuit.

The Index closed at 37,292pts as against 36,811pts showing an increase of 481pts (+1.3% DoD).

- Advertisement -

Sectors contributing to the performance include Banks (+188pts), E&P (+61pts), Fertilizer (+46pts), Food (+40pts) Power (+40pts).

Volumes declined from 216mn shares to 177mn shares (-18% DoD). Average traded value on the contrary increased by 28% DoD to reach US$ 46.9mn as against US$ 36.6mn.

Stocks that contributed significantly to the volumes include BOP,KEL, UNITY, PAEL and WTL, which formed XX% of total volumes.

Stocks that contributed positively include MCB (+65pts), HBL (+51pts), FFC (+38pts), PPL (+36pts), and NESTLE (+35pts).

Stocks that contributed negatively include MARI (-8pts), IGIHL (-6pts), MEBL (-6pts), HMB (-5pts) and DAWH (-4pts).

Read also: AKD: Rupee had attained equilibrium, Stock market is quite attractive at this point of time

- Advertisement -
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]
- Advertisement -

Latest News

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac, the Indonesian health minister said...

IFN declares SBP as top central bank for promoting Islamic finance

State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll...

Related News