Daily Stock Report: Market Gains Another 857 Points to Reach 46,464

KSE 100 recovered a further 857.85 points to cut down week’s loss to 1.12%. It was up 1.89% by the close of Thursday’s trading session to reach 45474.46.

Pakistan Stock Exchange (PSX) will remain closed from Friday June 23rd to June 28th, on account of Juma-tul-Wida and Eid-ul-Fitr Holidays, respectively. It shall resume with Pre-Ramazan trading and office timings from June 29.

Stocks underwent a dramatic ride on Wednesday as the KSE-100 Index took a complete U-turn, registering an over 1938-point intra-day movement after panic selling had caused it to plunge at the start of the trading session. The volatility was seen in the market yesterday.

The market has gone down a cumulative 15% in the past month. Earlier on June 20, the market dipped as the political uncertainty prevailing in the country with regards to the work of the Panama case Joint Investigation Team (JIT) probing the Sharif family’s assets had a negative impact on the stock market. Sell at strength was the strategy adopted by the investors as said by the market analysts.

The index tested the day’s high at 46464.38 points. The day’s low of 45474.46 came towards market close.

Overall, 293 million shares were traded, While in KSE 100 index, 166 million shares changed hands with a total worth of nearly Rs 10.35 billion.

POWER GENERATION AND DISTRIBUTION was the top traded sector with total traded volume of 72,697,800 shares. It was followed by COMMERCIAL BANKS with a total traded volume of 50,647,100 shares and ENGINEERING sector with a total traded volume of 25,091,100.

Shares of 377 companies were traded. At the end of the day, 256 Stocks closed higher, 103 declined while 18 remained unchanged.

K-Electric Ltd was the volume leader with 68.23 million shares, gaining Rs 0.15 to close at 7.00. It was followed by TRG Pak Ltd with 15.76 million shares, losing Rs 0.65 to close at Rs 42.07, Bank of Punjab (R) with 14.88 million shares, losing Rs 0.01 to close at Rs 0.05 and Engro Polymer with 13.03 million shares, gaining Rs 0.60 to close at Rs 39.71.

The top advancers of the market were:

Top decliners of the market were:

The shares of NIB Bank Limited will be suspended with effect from Wednesday, July 5, 2017 for entitlement of shares of MCB Bank Limited on account of the Amalgamation of NIB Bank Limited into MCB Bank Limited.

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