Karachi, December 17, 2020: The benchmark KSE100 index closed with a gain of 406 points at a level of 43,767 after making an intraday high of +433 points.
The market remained bullish with oil stocks being the major movers. As international oil prices hit a nine-month high, PPL (2.3 percent), POL (0.7percent) and OGDC (1.6 percent) from the E&Ps closed in the green.
Top contributors to total volume were PRL (7.4 percent), PAEL (7.4 percent), KEL (4.9 percent), ANL (4.6 percent), FFL (6.9 percent), TRG (1.0 percent) and HBL (2.0 percent) making a total of 193mn shares.
Moreover, HBL (2.0 percent), PPL (2.3 percent ), ENGRO (1.2 percent), OGDC (1.6 percent), EFERT (2.1 percent) and PAEL (7.4 percent) were the top movers adding 167 points towards the positive index. Moving forward, we expect market to remain bullish and recommend investors to buy on dips