Friday, July 3, 2020

KSE-100 up by 96 points closed at 38,649

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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 index of Pakistan Stock exchange (PSX) on Friday surged by 96 points closed at 38,649.

Market performed range bound between -69pts and +180pts and did not oscillate much. Most volume (for the third consecutive session) was observed in UNITY rights of 25M shares as against total market volume of 138M (18%).

Cement sector performed well on the release of cement dispatch data that showed growth in sales volume against expectation. Analysts at Arif Habib Limited said that the selling pressure kept the price growth in check. Banks, Cement and Power sector led the volumes table (other than Vanaspati), which was mainly contributed by BOP, FCCL and KEL respectively.

The Index closed at 38,649pts as against 38,553pts showing an increase of 96pts (+0.3% DoD). Sectors contributing to the performance include O&GMCs (+34pts), Cement (+34pts), Fertilizer (+21pts), Textile (+18pts), Banks (+17pts), Power (-32pts).

Volumes increased slightly to 137.7mn shares as against 132.2mn shares (+4% DoD). Average traded value also increased by 18% to reach US$ 36.9mn as against US$ 31.3mn.

Stocks that contributed significantly to the volumes include UNITYR1, BOP, KEL, ASL and FCCL, which formed 38% of total volumes.

Stocks that contributed positively include OGDC (+18pts), UBL (+18pts), ENGRO (+17pts), LUCK (+15pts), and SNGP (+13pts).

Stocks that contributed negatively include HUBC (-36pts), HBL (-33pts), PSEL (-25pts), PPL (-10pts) and FFBL (-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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