KSE – 100, the benchmark index for Pakistan Stock Exchange, continues to reach new highs as it opened today’s session by gaining 130 points at the outset. It continues the upward trajectory, crossing the 43000 points mark and closed above 43100 points.
Keeping in view the previous 12 session ending at the KSE – 100 index, the index broke the 43000 mark today as it recovers from a 6 – month battering, on the back of stable political environment.
Pakistan Stock Exchange main index KSE-100 witnessed 13 consecutive Positive days on close basis from 20th Dec 2017 to 8th Jan 2018 with return of +13.7%. Three more positive days of closing are required to create HISTORY in Pakistan’s Market. It is the longest positive streak (+13.7%) since 2005
Pakistan Stock Exchange (KSE-100 Index) has been the top most best performing market in the World in the last two weeks period (19th Dec’ 2017 to 4th Jan’ 2018). . Over the 13 consecutive sessions of the bull run, the KSE-100 index has accumulated 5192 points.
Foreign Buying was seen during the last week as well as well International buyers are coming back in the market. Finally, the foreign interest in local equities could also be a determining factor in setting the direction of the market.
Fertilizers, Steel, Bank, Cement, Oil and gas, Auto and Chemical were the selected sectors that brought up the gain.
At the end of the day, the benchmark index saw a gain of +588.13 points or +1.38% to close at 43112.12 points.
The market saw an intraday high of 732 points during the intraday as the market saw a 13th consecutive bullish session.
Sui Southern Gas Company SSGC gained more than +5% reaching its upper lock trading with average volumes of the week. Sui Northern Gas Company SNGP, the other company that is part of the 39 billion Rupees project, also attracted a lot of interest from investors as it gained +5.00% within the first three hours of trading and remained in the upper cap throughout the day
Prime Minister Shahid Khaqan Abbasi approved financing plan for 1.2 Billion Cubic Feet per Day (BCFD) capacity RLNG-III pipeline project (Karachi to Lahore) to be undertaken by SSGC and SNGPL. The ECC directed Petroleum Division to also examine the possibility of Public-Private Partnership for the project.
Volumes are getting better day by day as all shares index had a traded volume of 270.6 million shares today. Overall, stocks of 379 companies were traded on the exchange, of which 277 gained in value, 80 declined and22 remained unchanged. In KSE 100, 125.68 million shares were traded with a net worth of just Rs 9.25 billion.
Top traded sectors:
World Call Telecom was the volume leader with 35.26 million shares changed hands to close at Rs 3.17. It was followed by Azgard Nine with 15.65 million shares, gaining Rs0.91 to close at Rs15.36, Aisha Steel Mill with 12.92 million shares, gaining Rs0.80 to close at Rs19.84 and TRG Pak Ltd with 12.23 million gaining Rs0.55 to close at Rs29.42.
Top Advancers of the market were:
Top Decliners of the market were: