Karachi, June 08, 2020: Today benchmark KSE-100 index closed on a bullish note gaining 399 points, up 1.2 percent to finally close at 34,749 levels. Market remained positive as the pre-budget rally was witnessed.
E&Ps, Financials and Cements were the major movers of the index today where OGDC (1.9 percent), PPL (2.5 percent) and POL (5.2 percent) closed in the green zone as oil climbed in the international market after major producers agreed to extend a deal on record output cuts to the end of July.
Moreover in the Financial, MCB (3.6 percent) and HBL (1.1 percent) closed in the positive trajectory. Furthermore LUCK (1.4 percent) in the Cement sector closed in the green zone. OGDC (1.9 percent), HBL (1.1 percent), MCB (3.6 percent), PPL (2.5 percent), LUCK (1.4 percent), UBL (3.2 percent), POL (5.2 percent) and EFERT (1.2 percent) were the index movers.
Traded value stood high at $53 million, up 119 percent and volume stood at 222 million shares, up 150 percent.
Furthermore, major contribution to total market volume came from TRG (4.8 percent), MLCF (2.7 percent), HASCOL (2.9 percent), HUMNL (-8.8 percent), PIOC (5.5 percent) and LOTCHEM (3.1 percent). Going forward, expect market to remain positive ahead of the Budget and recommend investors to sell on strength.
