KSE-100 gains 442 points as traders end protest

Index surges 6.6pc or 2,124 points in October


KARACHI: The Pakistan Stock Exchange (PSX) marched north on Thursday, a day after traders called off their protest against the government’s taxation measures.

On the economic front, the State Bank of Pakistan sold Pakistan Investment Bonds (PIBs) worth Rs101 billion as against the target of Rs100 billion. Cut-off yields for 3-year, 5-year and 10-year have come down by 115bps (11.80pc), 90bps (11.60pc) and 90bps (11.35pc), respectively, due to heavy demand for fixed-rate bonds.

The KSE-100 Index remained positive throughout the session, recording an intraday high at 34,306.00. It settled higher by 442.27 points at 34,203.68 points. The KMI-30 Index jumped 1.11pc to close at 55,842.17, while the KSE All Share Index gained 126.30 points, ending at 24,698.78. The advancers to decliners’ ratio stood at 209 to 89.

For the outgoing month, the KSE-100 Index surged by 2,124.83 points (+6.62pc) thanks to Engro Corporation Limited (ENGRO +10.94pc), Mari Petroleum Company Limited (MARI +33.44pc), Habib Bank Limited (HBL +8.28pc), Pakistan State Oil Company Limited (PSO +20.81pc) and Dawood Hercules Limited (DAWH (+14.45pc) for their phenomenal performances in October.

Gains in today’s session were attributable to Engro Corporation Limited (ENGRO +2.72pc), MCB Bank Limited (MCB +3.36pc), Dawood Hercules Limited (DAWH +4.99pc), Pakistan Petroleum Limited (PPL +2.24pc), Pakistan State Oil Company Limited (PSO +5pc), United Bank Limited (UBL +1.88pc), Lucky Cement Limited (LUCK +1.84pc), Habib Bank Limited (HBL +0.67pc), DG Khan Cement Company Limited (DGKC +0.67pc) and Oil & Gas Development Corp (OGDC +0.69pc).

The overall market volumes were recorded at 183.98 million with Worldcall Telecom Limited (WTL +1.67pc) topping the chart; 24.26 million shares (13.18pc of the total volume) were traded following ARY Communications’ announcement that it was interested in acquiring a majority stake in WorldCall.

The earnings season came to an end with Al Shaheer Corporation Limited (ASC +4.93pc) reporting a profit of Rs190.92 million for FY19. The company’s earnings per share stood at Rs1.34 (-Rs0.31 in FY18).



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