Record biding of US$1.6bn of HBL offering and recovery in
international oil prices helped market to remain bullish in current week. Market
has observed an increase of almost 3,400 points since 30th march
after seeing a decline of 6,000 point. Other news triggering market were delay
in announcement of gas price hike, new discoveries by OGDC in Mardankhel,
increasing Forex reserves to US$16.11bn by SBP, higher dispatches & result
posting from cements, announcement of new power policy by government and
fixation of 17 per cent GST on LNG by ECC.
The benchmark KSE-100 index was up by 936.97 points to close
at 32,350.93 points. KSE All Share Index increased by 623.18 points to end at
22,893.21, KSE 30-Index improved by 628.82 points to conclude at 20,515.01.
The ready market average volume reduced by 5.30 per cent to
240.37 million shares compared to 253.82 million shares traded on last week. The
market capitalization of KSE enhanced by Rs 181.76 billion to Rs 7.116 trillion
against Rs 6.934 trillion observed last week. Pakistan Elektron Limited
remained overall volume leader during the week at 100.74 million shares, up by
Rs 7.16 to close at Rs 57.94. Second on the volume leader was, Maple Leaf
Cement increased by Rs 5.08 to close at Rs 60.68 by trading nearly 99.21
million shares. Jahangir Siddiqui Company remained as the third volume leader
of the week by trading well over 91.33 million shares got better by Rs 3.85 to
close at Rs 22.39.
In the past week 375 scrips traded in which 230 scrips
advanced, 134 declined while the value of 11 scrips remained intact. Nestle
Pakistan and Unilever Foods remained the top gainer by Rs 525 and Rs 256.95 to
close at Rs 10,500 and Rs 8,312 respectively, while Rafhan Maize and Hinopak
Motors Limited were among the major loser which lost Rs 189.86 and Rs 34.05 to
close at Rs 9,700 and Rs 886.50 respectively.
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