Army chief’s Saudi Arabia visit helps stock exchange land in green zone

Despite a brief dip below the yesterday’s mark, the KSE-100 index closed the session on Friday in green zone after a gain of 121.72 points (0.30 percent).

The latest recovery comes after benchmark KSE-100 Index registered a loss of 557.86 points (1.34 percent) on Thursday to settle at 41,179.76.

During the day, the index was down to 41,087.59, however, it reached 41,393.97 by the time trading was closed on Friday after reports of progress in talks with IMF.

The KSE-100 Index was at 41,698.28 on Dec 9 – the last business day of the previous week – which means it made a net loss of 610.69 points during the five sessions this week.

As far as the volume of KSE-100 Index is concerned, the total on Friday stood at 64.47 million shares, representing a decrease of by 53.09 percent from 137.45 million shares traded on Thursday.

In terms of sectors, most of the positive contributions came from technology, miscellaneous, oil and gas exploration, tobacco, and cement which cumulatively added 159.7 points to the index tally by the day’s end.

Out of the 93 companies’ shares traded, 44 companies recorded gains and 46 others sustained losses while three companies’ share price remains unchanged.

The volume leaders were [volume of shares is given in brackets]: Bank Alfalah Limited 17.47 million, Unity Food Limited 4.83 million, Cnergyico PK Limited 3.13 million, Sui Northern Gas Pipelines Limited 2.77 million and Kot Addu Power Company Limited 2.55 million.

On the other hand, the top gainers in terms of share price included: Pakistan Services Limited 7.41 percent, Pakistan Tobacco Company Limited 4.26 percent, Unilever Pakistan Foods Limited 4.17 percent, Indus Motor Company Limited 1.73 percent and Rafhan Maize Products Company Limited 0.64 percent.

But Colgate-Palmolive (Pakistan) Limited 1.01 percent, Millat Tractors Limited 2.65 percent, ICI Pakistan Limited 1.12 percent, Archroma Pakistan Limited 1.15 percent and Honda Atlas Cars (Pakistan) Limited 2.40 percent proved to be the worst performance by losing their share value.

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