The market rallied for the sixth consecutive session with aggregate gains of 447 points (4.1 per cent) with the ongoing result season providing the needed impetus. In today’s session, advancement was cut short as the KSE100 pulled back sharply after notching to the intraday peak of 11,418 points with investors opting to book gains. Healthy investor participation was also witnessed with 91million shares traded during the day.
Recovery in Engro continued as investor confidence in the scrip gained strength with early restoration of gas supply to EnVen. Optimism over healthy earnings and payout announcement by Attock oil group stocks expected over the weekend kept them in the green. Pakistan Oilfields Limited once again stole the show and jumped 1.9 per cent over expectations of better full year earnings and payout in its board meeting due on Sept 11.
The KSE 100 index closed at 11348.42 levels with the gain of 18.65 points, while KSE 30 index secured 41.32 points to close at 10936.48 levels. All Share index closed at 7881.51 levels after gaining 13.56 points. Total 146 scrips advanced 91 declined and 102 remained unchanged out of total 339 scrips traded.
Among banks, National Bank remained among the top volume leaders with 9 million shares exchanging hands, and closing up 2.6 per cent despite some profit taking. Furthermore, Pakistan State Oil gained 1.7 per cent over news that Ministry of Finance will borrow Rs100 billion from commercial banks which will help settle the circular debt issue.
Moreover, HUBC announced its full year Earning Per Share of Rs4.69 along with a final cash dividend of Rs3/share, which was largely inline with market expectations.
KSE Market Capitalisation stood at Rs3,005.24bn, that is $34.35bn, while total volume were 90.93million shares with total ready market value of Rs4.25 billion ($ 48.59 million). KSE Future Volume stood at 7.03 million shares, and KSE Future Value was Rs686.46million. KSE Future Spread was 5.28 per cent.
In today’s session, top gainers in KSE-100 were Pak Elektron Ltd., Pakistan Refinery Ltd., Arif Habib Corporation Limited, Azgard Nine Ltd., I.C.I Pakistan Ltd., Pakistan National Shipping Corporation, and Netsol Technologies. While top losers were Pakistan Cables Ltd., Millat Tractors Ltd., Gharibwal Cement Ltd., Allied Bank Limited, Murree Brewery Company Ltd, Packages Limited, and Lafarge Pakistan Cement Ltd.
