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Full day report: KSE-100 Index makes gains amidst lower activity

Published Mar 20, 2017 04:09pm

The Pakistan Stock Exchange started the week on a positive note, with the benchmark KSE-100 index gaining 288 points, or 0.60pc, by the close of the trading session to reach 48,697 points.

Volumes were considerably lower than usual, with commercial banking, engineering, and power generation and distribution stocks attracting investor interest.

A total of 55.82 million shares had changed hands by the end of the session, with a total worth of nearly Rs4.01 billion.

Stocks of 374 companies were traded, of which 213 gained in value, 147 declined and 14 remained unchanged.

Volumes were led by:

  1. K-Electric Ltd.: 12.3m shares traded (-1.20pc);

  2. Aisha Steel Mill: 10.4m shares traded (+4.98pc);

  3. Bank of Punjab: 9.28m shares traded (+0.74pc);

  4. Dost Steels Ltd.: 7.64m shares traded (+2.74pc); and,

  5. Pak Refinery: 6.24m shares traded (+4.98pc).

Senior analyst Ahsan Mehnati said that pre-budget optimism, coupled with a positive outlook for crude oil stocks, led the benchmark in the green.

"Positive speculations regarding the political environment raised the morale of investors, whereas positive crude oil prices in the international market also influenced the local bourse," he added.


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Comments (2) Closed

dmg group
Mar 21, 2017 06:12am

With volumes so low how can an analyst say that it was a positive mood though it closed with reasonably better points but market was under pressure all the time

N K Ali
Mar 21, 2017 10:28am

The next few days will determine if the uptick in the market will hold. The current account deficit of $5 billion will depress the prices as more loans will be obtained. The Regulator and brokers should come to an understanding because a sudden attack on brokers for inside financing is not right. It should come gradually with meetings at regular intervals to regulate the stock market. There are thousands of small investors suffering because a few big brokers are under the microscope. Another crash like 2005 or 2008 could really upset the apple cart and bankrupt small investors. Increasing the free float, increasing the number of scrips in margin financing and allowing the maximum and minimum variations of 7.5 to 10 percent can be considered. Salams.

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