The KSE-100 index despite economy slowing down news closes 965 points higher at 40,898 on Wednesday.
The market started with positive hits all day with the highest level at 40,980. Wednesday’s major contributors remained positive and collectively contributed +306 points. The major companies including, ENGRO was up by 2.22 percent while HBL was up by 3.92 percent and LUCK was up by 4.19 percent. UBL was up by 4.48 percent while FCC was up by 2.47 percent.
The trading volumes also saw an increase of 75% DoD to 248 million shares, the traded value reached $67 million. However, EPCL was seen as the market leader in volume with 10 million shares traded.
Cement sector was also positive for the second consecutive day, all major cement companies including DGKC, MLCF, CHCC, PIOC, and KOHC were positive and up by 4.96, 5, 5, 5 and 5 percent respectively.
Investors were more interested in the banking sector, Fertilizer sector witnessed positivity as well, the News about Urea prices increase by Rs50 per bag also contributed towards positive results, EFERT was up by 1.42 percent, FCC was up by 2.47 percent while FFBL was up by 2.67 percent.
The market would remain positive according to the analysts, a similar trend is expected in the forthcoming days.