With OGDC carrying the index weight on its shoulders, the KSE-100 index was able to muster another strong performance today as it added 72 points to yesterday’s total to close at 11,464 points. OGDC ended up 2.6 per cent higher than its previous close and contributed 71 points towards the index point gain.
The KSE 100 index closed at 11464.61 levels with the gain of 72.04 points, while total volume stood at 38,122,380 along with the total value of 2,449,153,914. KSE 30 index gained 36.26 points to close at 10654.48 levels, and All Share index closed at 7936.79 levels after gaining 46.60 points. Total 101 scrips advanced 102 declined and 96 remain unchanged out of total 299 scrips traded.
The ECC meeting to decide the December gas load management schedule yesterday was a game changer for the fertiliser sector as the ECC decided to cut off the gas supply to Engro’s EnVen plant with immediate effect. Hence, key beneficiaries FFC, FFBL and FATIMA witnessed a strong rally including the top positions on the volume leaders board as investors sense a price hike emanating from the SNGPL side based on the ECC’s decision. Overall, the week ended on a positive note but with political uncertainty in the air, market stability is a far cry at this point and we advise investors to remain wary of negative triggers, said Sr. Investment Analyst at HMFS, Ali Hussain.
