Full-day report: KSE-100 Index breaches 50,000 barrier

The benchmark KSE-100 index breached the 50,000 point barrier in Monday’s session, gaining 0.81 per cent (403 points) to reach 50,111.67 points, as the post-Panama verdict bullish sentiment continued to rule.

“KSE-100 index continued its bull run […] to close above the 50,000 mark after almost 3 months on the back of institutional buying,” observed a research note issued by a Topline Securities.

“Bullish trend continued on upbeat financial results in oil, banking and auto sectors,” said Ahsan Mehanti of Arif Habib Corp.

“Rising global equities, easing political noise, record quarter-end corporate earning announcements by Pakistan State Oil, National Bank, Bank Al Falah and Indus Motors played a catalyst role in bullish close,” he added.

KSE-100 Index volumes reached 135 million shares, with the value of shares traded reaching slightly above Rs15 billion.

Total volumes touched 399.46m, worth Rs22.21bn. A total of 388 symbols were traded at the Pakistan Stock Exchange, of which 222 advanced, 154 declined and 12 remained unchanged.

Cement, engineering, chemical, textile and oil and gas marketing companies attracted most of the activity through the day.

Volumes were led by:

  1. Power Cement Ltd: 35.84m shares traded (+4.72pc)

  2. Aisha Steel Mill: 28.39m shares traded (+4.91pc)

  3. Azgard Nine: 26.75m shares traded (-0.08pc)

  4. TRG Pak Ltd: 22.39m shares traded (+4.99pc)

  5. Engro Polymer: 20.11m shares traded (+4.99pc)

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