Daily Stocks Report: KSE Pulls with 567 Pts Gain to Close at 49,851 Points

KSE-100 recorded a massive gain of 567 points or + 1.15 % by the end of the trading session to close at 49851 points.

The KSE-100 Index performance increased over 800 points in intra-day trading today as the  KSE-100 Index – a benchmark for market performance – crossed the 50,000-point level for the second  time in two weeks. The market gained 800 points at 3:22 pm and crossed the 50,000 points level.

The Index opened positive and continued to gain profits throughout the last trading session while closing in green, in the last day of the week. Volumes were greater than Thursday.

136 million shares worth Rs 13.16 billion were traded by the end of the day.

COMMERCIAL BANKS was the top traded sector with total traded volume of 50,265,300 shares. It was followed by CHEMICAL with a total traded volume of 45,960,400 shares and CEMENT sector with a total traded volume of 24,952,850.

According to market analysts cement and banking sectors lent the support, to push the index past the 50000 level today but couldn’t sustain it by the end of the day.

Shares of 383 companies were traded. At the end of the day, 212 stocks closed higher, 150 declined while 21 remained unchanged.

Engro Polymer was the volume leader with 37.52 million shares, gaining Rs 0.64 to close at 30.93. It was followed by TRG PAK Ltd with 17.28 million shares, gaining Rs 0.21 to close at Rs 55.91, K-Electric Ltd with 14.60 million shares, losing 0.05 to close at Rs 8.01 and Azgard Nine with 12.03 million shares, gaining  Rs 0.47 to close at Rs 14.08.

The top advancers of the market were:

Top decliners of the market were:

On May 15th, 2017, MSCI is expected to formally introduce Pakistan into the MSCI Emerging Markets Index. The market’s excitement can mainly be attributed to the upcoming MSCI’s transition as it pushed the market to the 50000 level mark on the intra day.

The simulated MSCI Pakistan Index would have a potential weight of 0.13% in Emerging Markets. MSCI Pakistan Index was removed from MSCI Emerging Markets Index at the end of December 2008 following the deteriorated invest ability conditions prevailing in the Pakistani equity market.

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