Closing Bell: Stock market extends winning streak
December 2, 2019(MLN): The KSE-100 index continued to experience a robust rally on the first trading day of the week as it surpassed 40,000 points for the first time since February 22, 2019. The index carried on its upward trajectory by gaining 836 points to close at 40,124 level as Moody's changed Pakistan's outlook to stable from negative, affirming B3 rating. Market activity improved significantly as the exports of Pakistan have surpassed $2 billion in November 2019, resulting in shrinkage in trade deficit by $988 million. A heavy volume of 557 million shares was traded today after the highest closing record of around 606 million shares set on May 24, 2017. The Index remained positive throughout the session touching an intraday high of 40,142.90 Of the 97 traded companies in the KSE100 Index 80 closed up 15 closed down, while 2 remained unchanged. Total volume traded for the index was 361.66 million shares. Sectors propping up the index were Commercial Banks with 516 points, Power Generation & Distribution with 73 points, Oil & Gas Marketing Companies with 53 points, Cement with 52 points and Textile Composite with 36 points. The most points added to the index was by HBL which contributed 119 points followed by MCB with 92 points, UBL with 89 points, BAHL with 59 points and HUBC with 51 points. Sector wise, the index was let down by Oil & Gas Exploration Companies with 83 points and Chemical with 3 points. The most points taken off the index was by OGDC which stripped the index of 49 points followed by PPL with 24 points, POL with 19 points, MTL with 8 points and COLG with 7 points. All Share Volume increased by 125.54 Million to 557.39 Million Shares. Market Cap increased by Rs.116.82 Billion. Total companies traded were 409 compared to 407 from the previous session. Of the scrips traded 304 closed up, 89 closed down while 16 remained unchanged. Total trades increased by 15,908 to 134,681. Value Traded increased by 2.01 Billion to Rs.16.48 Billion Company Volume Top Ten by Volume The Bank of Punjab 74,927,500 K-Electric 40,850,000 Unity Foods 37,700,000 Fauji Foods 18,273,500 Pak Elektron 16,542,000 Agritech 12,285,000 Dost Steels 12,218,500 Power Cement 11,588,000 Pakistan International Bulk Terminal 10,868,500 Pakistan Telecommunication Company Ltd 10,861,000 Sector Volume Top Sector by Volume Commercial Banks 110,953,200 Cement 59,018,800 Power Generation & Distribution 47,034,000 Vanaspati & Allied Industries 37,700,300 Technology & Communication 36,934,500 Engineering 36,902,500 Chemical 26,769,414 Food & Personal Care Products 25,253,640 Inv. Banks / Inv. Cos. / Securities Cos. 23,649,900 Oil & Gas Marketing Companies 19,694,000 Copyright Mettis Link News