Bulls return to bourse, KSE-100 Index gains over 1,000 points

• KSE-100 index was being traded at 38,830.16 points showing an increase of 846.54 points and a percentage change of 2.23pc.
• The development comes amid decline in inflation and petroleum product prices, which was supported by improvements in international stock markets and positive effects of the Afghan peace deal.

The Pakistan Stock Exchange (PSX) finally saw a return of bulls, after the benchmark KSE-100 Index gained over 800 points at intra-day during the first trading day of the week on Monday.

At the time of filing this report, the index was being traded at 38,986.40 points showing an increase of 1,002.78 points and a percentage change of 2.64pc. The development comes amid decline in inflation and petroleum product prices, which was supported by improvements in international stock markets and positive effects of the Afghan peace deal.

The bullish run comes after the bourse remained under severe pressure during the outgoing week ended on February 28, 2020 due to panic selling by both local and foreign investors. KSE-100 index plunged by 2265.60 points on week-on-week basis and closed at 37,983.62 points.

The three top traded companies were Maple Leaf Cement Factory Limited with a volume of 9,374,000 and price per share of 25.75 (1.36), World Call Telecom Limited with a volume of 7,404,500 and price per share of 0.93 (-0.02), Hascol Petroleum Limited with a volume of 7,138,000 and price per share of 19.26 (0.43).

The top three advancers were KASB Modaraba with a volume of 500 and price per share of 1.49 (0.39), First Prudential Modaraba with a volume of 1000 and price per share of 1.30 (0.18), Ghazi Fabrics international Limited with a volume of 7500 and price per share of 4.00 (0.50).

The top three decliners were Nazir Cotton Mills Limited with a volume of 10,500 and price per share of 3.25 (-0.51), B.R.R Guardian Modaraba with a volume of 1,000 and price per share of 7.51 (-0.96), Khurshid Spinning Mills Limited with a volume of 4,500 and price per share of 8.22 (-1.00).