Daily Stock Report: KSE-100 Index Crosses ‘Psychological Barrier’ of 50,000 Points

The stock market continued its upward trend on Monday as the KSE-100 Index crossed the 50,000-level during intraday trading. At 1.45pm, the benchmark index stood a little over 50,200 points, with a more than 400-point gain. It reached the intraday high of 50204.98 as the post-Panama case bullish sentiment continues. It was at the highest level since January 27,2017.

Following the Panama case verdict last week, the benchmark KSE-100 index had reacted positively by momentarily surging more than 1,869 points.

KSE-100 recorded a rise of +403.02 points or + 0.81% by the end of the trading session to close at 49708.65 points.

Volumes remain steady as 135 million shares worth Rs. 15.02 billion were traded by the end of the day.

Market Highlights

Volumes remained steady as following sectors gained investor interest. CEMENT was the top traded sector with total traded volume of 57,512,300 shares. It was followed by ENGINEERING with a total traded volume of 47,352,700 shares.

Shares of 388 companies were traded. At the end of the day, 222 stocks closed higher, 154 declined while 12 remained unchanged.

Power Cement was the volume leader with 35.83 million shares, gaining Rs 0.93 to close at Rs 20.64. It was followed by Aisha Steel Mill with 28.39 million shares, gaining Rs 1.25 to close at Rs 26.69, Azgard Nine Ltd with 26.75 million shares, losing Rs 0.01 to close at Rs 13.12 and TRG Pak LTD with 22.39 million shares, gaining Rs 2.77 to close at Rs 58.24.

The top advancers of the market were:

Top decliners of the market were: