KSE-100 gains 63 points in mixed trading

KSE-100 gains 63 points in mixed trading

KARACHI: The benchmark KSE-100 index gained 63 points on Friday in mixed trading activities.

The index closed at 39,306 points as against 39,244 points showing an increase of 63 points.

The market opened on a positive note and the volume improved in the first session that crossed 70 million.

The index oscillated between -152 points and +147 points during the day.

Significant volumes were seen in KEL with a total volume of 55.9 million shares (36 percent of the total traded volume), on the expectation of deal conclusion with Shanghai Electric, analysts at Arif Habib Limited said.

Selling pressure was mainly observed in E&P, Banking, Cement and O&GMCs sector.

Market largely performed on the expected changes in the upcoming mini-budget that is likely to offer good news for some sectors.

Sectors contributing to the performance include Fertilizer (+45 points), Power (+29 points), Chemical (+11 points), Insurance (+5 points), Banks (-20 points), and Cement (-19 points).

Volumes increased from 104.5 million shares to 154.8 million shares (+48 percent DoD).

Average traded value however, declined by 5 percent to reach $36.8 million as against $38.7 million.

Stocks that contributed significantly to the volumes include KEL, TRG, UNITY, PAEL and SSGC, which formed 55 percent of total volumes.

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