The benchmark KSE-100 index managed to gain 48 points and closed in green as it ended the trading at 43,281 points owing to improved investor sentiment. The market participants welcomed the arrival of $3bn deposit from Saudi Arabia which is expected to boost the country’s FX reserves and provide support to the depreciating local currency.

The index traded in a range of 579.80 points or 1.34 percent of the previous close, recording an intraday high of 43,556.27 (up 323pts) during initial hours of trade. It then fell to day’s low of 42,972, losing 261 pts falling below the 43,000 mark.

Out of the 91 traded companies in the KSE-100 Index, 36 closed up 51 closed down, while 4 remained unchanged. The total volume traded for the index was 74.06 million shares.

Sectors that made a positive contribution to the index were oil & gas exploration companies with 124 points, technology & communication with 83 points, power generation & distribution with 26 points, a chemical with 10 points, and cement with 8 points.

The largest number of points added to the index was by PPL which contributed 60 points followed by SYS with 46 points, TRG with 36 points, POL with 32 points, and OGDC with 20 points.

Sector-wise, the index was dragged down by commercial banks with 75 points, fertilizer with 40 points, food & personal care products with 24 points, textile composite with 17 points, and engineering with 13 points.

The highest number of points lost at the index was by UBL which stripped the index of 35 points followed by HBL with 32 points, ENGRO with 19 points, NML with 19 points, and FFC with 13 points.

All share volume dropped by 110.82 million to 176.91 million shares. Market cap rose by Rs.4.25 billion.

Total trades fell by 29,058 to 90,039. Value traded dropped by 4.20 billion to Rs.6.08 billion

Total companies traded were 314 compared to 330 from the previous session. Of the scrips traded 122 closed up, 175 closed down while 17 remained unchanged.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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