A remarkable day was seen in the Pakistan Stock Exchange as the benchmark index, KSE-100, went past the psychological barrier of 40,000, a level which was last seen in February 2020 in the Pre-COVID days.
With this, Pakistan Equities witnessed historic volumes of 826 million up 64% DoD, highest since Sept 2016, mainly due to increased volume in World Call Telecom Ltd (WTL) which captured 29% of KSE-ALL volumes after ARY Communications Ltd submitted an intention to acquire 51% of issued and paid-up share capital. Overall 950 million shares (cash+future) were traded today.
KSE-100 index continued its bullish rally today making a high of 40,422. At its closing, the benchmark KSE 100 share index recorded an increase of 283 points, or 0.71%, to settle at 40,166.12.
The volume-wise activity was mainly concentrated in Technologies & communication with 303.267 million shares traded, followed by Cement having a volume of 141.38 million shares and Engineering (52.05 million) shares respectively.
Commercial Banks contributed most to the index gains, adding 107 points, followed by E&P, adding 40 points, auto 27 points, and Cement 20 points. MCB and NBP from the financials sector cumulatively contributed 84 points to the KSE-100 Index. TRG was closed at its upper circuit as the grapevine suggested that IPO of its indirect subsidiary company IBEX Limited is in process on NASDAQ. The automobile sector was in the limelight today with PSMC closing near the upper cap and HCAR up 5%.
Of the 377 scrips traded today, 200 advanced, 162 declined and 15 remained unchanged.
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