Daily Stock Report: Market Recovers and Gains 523 Points After Panama Judgement

The KSE-100 Index opened positive after the opening bell, gaining 600 points in intra-day trading, however, the later session saw a remarkable buying spree as the index shot up and closed in the green with more gain.

At close on Tuesday, the benchmark KSE 100-share Index recorded a rise of 522.98 points or 1.14%, to finish at 46,533.43.

Pakistan’s stock market seems to be responding positively to the ousting of Nawaz Sharif from PM office. Not only did it recover from its steep intra-day losses last Friday when the judgment was announced, it continued its gains yesterday as well.

The market observed a bullish momentum throughout the day, with the initial impetus provided by the oil sector.

Overall, trading volumes fell to 256 million shares compared with Monday’s tally of 316 million shares.

Shares of 377 companies were traded. At the end of the day, 250 stocks closed higher and 111 declined while 11 remained unchanged. In KSE 100, 108 million shares were traded with a net worth of Rs13.75 billion.

ENGINEERING was the top traded sector with total traded volume of 39,716,800 shares. It was followed by TEXTILE COMPOSITE with a total traded volume of 29,671,940 shares and CHEMICAL sector with a total traded volume of 24,059,510.

Azgard Nine was the volume leader with 21.85 million shares, gaining Rs 0.01 to close at Rs 15.12. It was followed by TRG PAK LTD with 16.30 million shares, gaining Rs 1.90 to close at Rs 43.72, Aisha Steel Mill with 15.57 million shares, gaining Rs 1.02 to close at Rs 21.49 and Lotte Chemical with 14.46 million shares, gaining Rs 0.67 to close at Rs 11.10

Top advancers of the market were:

Top decliners of the market were:

US oil opened above $50 per barrel for the first time since late May on Tuesday, supported by strong fuel demand, but ongoing high supplies from producer club OPEC kept prices from rising further.

US West Texas Intermediate (WTI) crude futures were at $50.26 per barrel at, up 9 cents, or 0.2 percent, from their last close and now is currently being traded at $49.91. That marks the first time US crude has opened above $50 per barrel since May 25.

Brent crude futures, the international benchmark for oil prices, were trading up 6 cents, or 0.1 percent, at $52.78 per barrel.

  • پانامہ نرا پاجامہ۔۔۔

    People who are ‘dancing’ because of Supreme Court’s order regarding Nawaz’s disqualification have no idea what’s good for them. Their country is being destroyed right in-front of their very eyes, yet they’re too foolish to see it coming.

    Ever wondered why Panama leaked Hillary Clinton’s Email (35 Thousand, to be exact, from her private server) yet did nothing regarding Donald Trump’s so called “RussiaGate”. It’s now a proven fact that US elections were meddled by Russian hackers and at least 21 US States were hacked. And if that’s not enough, Russian bloggers endorsed GOP (Republicans) and fabricated completely fake stories to defame Hillary.

    Ever wondered why once strong and stable Muslim world powers like Egypt, Libya, Turkey, Iran, Iraq, Syria, Afghanistan, Qatar and even Malaysia (to some extent) are now in shambles and are suffering from terrible civil and political unrest?

    Is this all a coincidence? That all strong Muslim countries are now struggling and suffering from civil war like crisis?

    Thing is, Pakistan is a NUCLEAR power. And only way to take on our strong nation is to divide and conquer.

    Abraham Lincoln once said: “A house divided by itself cannot stand”.

    And that’s the strategy of anti-Islamic powers lurking in the world.

    Nawaz is a centrist man. While PPP & PTI both are liberal political parties and are nothing but poison for our cause.

    Remember 1998? I bet that no other political leader except Nawaz would have had the courage to take a strong stance on Pakistan’s Nuclear Missile testings. Bill Clinton & all NATO countries took a strong notice of it and warned Pakistan not to conduct its missile tests, yet Nawaz insisted and made us a Nuclear Power…

    And if that’s not a sign of a true patriot then I don’t know what is…

    And like I said, this Panama Pajama is nothing but a sad excuse to disqualify the strongest political leader of Pakistan just to put our country in chaos.

    Think about it, if you can.

    Good Day!

  • Ltd feature videos

    Watch more at LTD