Clar­i­fi­ca­tion of Chi­nese sup­port mar­ket re­bound KSE-100 In­dex sees U-turn clos­ing higher by 585 points

The Financial Daily - - FRONT PAGE -

Ghu­lam Raza Ra­jani

KARACHI: After wit­ness­ing neg­a­tiv­ity of 1,000 plus points in past 2 days mar­ket took uturn see­ing an in­crease of al­most 1.5 per cent. Clar­i­fi­ca­tion of fi­nance min­is­ter re­gard­ing im­me­di­ate Chi­nese sup­port to Pak­istan be­came the fore­most rea­son for pos­i­tiv­ity. Higher level of in­ter­est from mu­tual funds as­sisted mar­ket to end the day on a high.

The bench­mark KSE-100 in­dex closed higher by 585.45 point to close at 41,543.98 points. KSE All Share In­dex in­creased by 261.50 to end at 30,022.96, KSE 30-In­dex en­hanced by 309.15 points to con­clude at 20,039.51, whereas KMI 30-In­dex im­proved by 1,261.64 points to fin­ish the day at 71,589.61 level.

Mur­taza Ja­far at

Elixir Se­cu­ri­ties said Bench­mark KSE100 In­dex closed in green at 41,546 lev­els with aggressive buy­ing wit­nessed in Con­struc­tion and Ma­te­ri­als Sec­tor as in­vestor cheered clar­i­fi­ca­tion from Fi­nance Min­is­ter on PM Khan's visit to China where he suc­cess­fully se­cured eco­nomic pack­age of USD6bn. Lucky Ce­ment Lim­ited LUCK PA +4.56%, D.G Khan Ce­ment Com­pany Lim­ited DGKC PA +5% and Pi­o­neer Ce­ment Lim­ited PIOC PA +5% were the star per­form­ers to­day while Bank of Pun­jab BOP PA +5.14% and Lotte Chem­i­cal Pak­istan Lim­ited LOTCHEM PA +5.59% were vol­ume lead­ers to­day with com­bined ~56mn shares traded to­day. Go­ing for­ward, In­vestors are ex­pected to fol­low de­vel­op­ments on fi­nan­cial pro­gram ne­go­ti­a­tions with IMF del­ega- tion.

The ad­vance to de­cline ra­tio in the broader mar­ket re­mained in fa­vor of bulls. Out of 375 scrips, 284 scrips ad­vanced, 75 de­clined while the value of 16 scrips re­mained in­tact.

The ready mar­ket vol­ume in­creased by 22.216 per cent to 276.9299 mil­lion shares as com­pared to 230.3604 mil­lion shares traded on last trad­ing day.

Bank of Pun­jab topped the list of ac­tives, higher by Rs 0.71 at Rs 13.35 on 35.03 mil­lion shares, fol­lowed by Lotte Chem­i­cal Lim­ited in­creased by Rs 0.97 at Rs 18.86 on 21.24 mil­lion shares and Pak­istan Elek­tron Lim­ited im­proved by Rs 0.10 at Rs 31.88 on 16.04 mil­lion shares.

Other ac­tives were En­gro Poly­mer & Chem­i­cal Lim­ited

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