The Pakistan Stock Exchange (PSX) rallied in the week’s last trading session as bulls took control of the market with traders staking their cash on more drama next week.
After opening trade at 45,392.37 points, the market showcased bullish sentiments throughout the day, with the benchmark KSE-100 index gaining as much as 650 points or ~1.45 percent after rising to a high of 46,080.51 before the closing bell.
The benchmark KSE 100 index gained 1.89 percent on a WoW basis. It crawled to the day’s high of 46,122.16 (gaining 723.85 points). The index settled higher by 522.42 points at 45,920.73. The KMI 30 index gained 386.04 points closing at 77,020.15.
The KSE All share index was up by 313.07 points ending the session at 30,731.25.
Overall market volumes grew from 464.12 million shares in the previous session to 503.45 million shares today.
Worldcall Telecom Limited (WTL +0.70 percent) came in first with 106.13 million shares traded, followed by Fauji Foods Limited (FFL +1.03 percent) with 44.23 million shares exchanged and Cynergyico PK Limited (CNERGY +8.09 percent) with 35.91 million shares traded.
Top Volumes
SCRIP PRICE HIGH LOW CHANGE VOLUME
WTL 1.44 1.53 1.42 0.03 106,503,443
FFL 6.87 7.43 6.76 0.08 44,280,040
CNERGY 3.34 3.44 3.1 0.23 35,911,615
TPLP 13.41 13.92 13.34 0.24 32,176,241
KEL 2.03 2.09 2.0 0.02 24,775,059
BOP 4.26 4.41 4.15 0.06 17,057,500
HASCOL 5.64 5.88 5.6 0.05 8,903,500
Sectors painting the benchmark KSE 100 index in green included the Banking sector (359.16 points), the Chemical sector (57.55 points), and Technology and Communication sector (34.53 points). Company-wise, United Bank Limited (UBL 102.75 points), Colgate Palmolive Pakistan Limited (COLG 60.35 points), and Meezan Bank Limited (MEBL 58.54 points), were top positive contributors.
The Commercial Banks sector gained 3.41 percent in its cumulative market capitalization. Meezan Bank Limited (MEBL 3.98 percent), United Bank Limited (UBL 4.74 percent), MCB Bank Limited (MCB 2.91 percent), and Habib Bank Limited (HBL 1.31 percent) all closed in green.
At 5 PM Pakistan time, equity markets around the globe showed a negative trend. Crude oil prices moved north with WTI crude oil price rising by 1.08 percent to $76.47.
Brent crude oil price was up by 1.26 percent to $80.64.
Source: Pro Pakistani