Friday, February 28, 2020

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

Featured

Coronavirus: Japan asks students not to leave their homes except for necessity

Japanese Education Minister Koichi Hajioda said on Friday that the government is asking children to stay in their homes...

Coronavirus spreading rapidly outside China: Fear affects markets

The number of new coronavirus infections within China, the source of the outbreak, was surpassed for the first time...

UN calls to combat coronavirus-related discrimination

UN chief human rights official Michelle Bachelet asked the global community on Thursday to show solidarity with people of...
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]

Market is showing signs of a bull run in the wake of the State Fund that will likely buy scrips of State-owned listed entities.

On the whole, market shot up by 1256pts during the session, and closed +1195pts.

Majority stocks hit upper circuit including index blue chips OGDC, PSO, SNGP, NBP and otherwise traded in green zone throughout the session.

Volumes maintained the healthy stride of 150M plus for the third consecutive session and on Wednesday crossed 200M shares mark.

Banking sector led the volumes table with 44M shares, followed by Technology (32M) and Power (19M) Sectors.

Among banking sector BOP marked hefty volume of 25M shares, followed by WTL (20M) in Technology Sector.

The Index closed at 34,637pts as against 33,442pts showing an increase of 1195pts (+3.6% DoD).

Sectors contributing to the performance include E&P (+269pts), Fertilizer (+219pts), Banks (+216pts), Power (+116pts) and Cement (+96pts).

Volumes increased significantly from 153.6mn shares to 203.5mn shares (+32% DoD).

Average traded value, however, increased by 1% merely to reach US$ 35.2mn as against US$ 34.9mn the other day.

Stocks that contributed significantly to the volumes include BOP, WTL, KEL, PIBTL and UNITY, which formed 40% of total volumes.

Stocks that contributed positively include OGDC (+93pts), PPL (+93pts), HUBC (+73pts), ENGRO (+66pts) and HBL (+65pts).

Stocks that contributed negatively include BAFL (-8pts), INDU (-5pts), JLICL (-4pts), ICI (-2pts) and COLG (-2pts).

Read also: Govt to launch Rs 20 billion fund to provide liquidity, managed by NIT, State Life and banks

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]

Latest News

Coronavirus: Japan asks students not to leave their homes except for necessity

Japanese Education Minister Koichi Hajioda said on Friday that the government is asking children to stay in their homes...

The United Nations calls for an immediate cease-fire in Syria

Secretary-General António Guterres called on Friday for an immediate ceasefire in Syria, his official spokesman said in a statement. The spokesman added that Guterres was...

Protective masks crisis around the world will not subside soon

If you are worried about Corona, and you have trouble getting medical masks, these numbers will explain why: China is the largest producer of...

Coronavirus spreading rapidly outside China: Fear affects markets

The number of new coronavirus infections within China, the source of the outbreak, was surpassed for the first time by new cases in other...

UN calls to combat coronavirus-related discrimination

UN chief human rights official Michelle Bachelet asked the global community on Thursday to show solidarity with people of Asian ethnicity subject to discrimination...

Related News