Finance

KSE 100 closed on a positive note

Karachi, June 22, 2020: Today benchmark KSE-100 index closed in the positive zone after making a high and low of +356 points and -367 respectively to finally close at 33,738 levels, 0.9 percent up.

PPL (0.1 percent), OGDC (2.1 percent) and POL (2.0 percent) in the E&Ps closed in the positive zone as the international oil prices were up as investor sentiment was boosted by signs of tighter supplies.

Moreover in the Fertilizers, ENGRO (2.9 percent) and FFC (2.7 percent) closed in the positive trajectory. Furthermore, ENGRO (2.9 percent), FFC (2.7 percent), HBL (0.03 percent), OGDC (2.1 percent), HUBC (1.8 percent), PPL (0.1 percent), LUCK (0.6 percent), UBL (1.5 percent) and POL (2.0 percent) were the index shakers.

Traded value stood slightly up at $37 million, up 84 percent and volume stood at 161 million shares, up 52 percent. Furthermore, major contribution to total market volume came from UNITY (-1.6 percent), MLCF (-0.8 percent), TRG (1.1 percent), HASCOL (0.2 percent) and HUMNL (0.1 percent).

Going forward, we expect market to remain range-bound and recommend investors to sell on strength.

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