Morning Chronicle issued by Adeel & Nadeem Securities Limited

Karachi: Market Review

The KSE-100 share index continued its bullish run on the last trading day before the Eid holidays with thinly traded turnover.

According to Adeel & Nadeem Securities Limited, the KSE-100 share index finished the session with an increase of 149.84 points (+1.27 percent) at 11,957.30. During the last week, the KSE- 100 share index gained 395.63 points and proved to be the second straight bullish week.

The intra-day range of the KSE-100 index for the Friday session was 11,813.96 – 11,975.12. Total shares traded during the session however came down further by 5.60 million shares from the previous turnover of 61.49 million shares to reach at 55.89 million shares. The KSE-100 share index opened the session at 11,844.95 with an upside gap of 37.49 points and throughout the session played in the green zone.

The energy sector led the bullish run on the rumours that government had released funds to PSO and the whole circular debt issue will be resolved very soon. Foreign investors were seen on the buying side with a net buy of $US 0.91 million during the session. Out of 334 active scrips, 151 closed in the green zone, 82 in the red zone, while the values of 101 stocks remained unchanged.

Last day’s closing above 11,891 has once again triggered bullish run with immediate target of 12,300 but if it closes below 11,891 today then market will be considered trend-less.

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