100 Index up 240 points at open

KSE – 100 has been on a bearish trend during the current week, with index falling 160 points during the last two sessions. However, the index is on its track of rebound today as markets have gained more than 240 points during the first 45 minutes of trading.

Oil & Gas, Commercial Banks and Fertilizer stocks have been buoyant in early trade adding more than 150 points on the back uplift in global equities especially those of US and Asia.

In economic indicators, remittances from Pakistani expats jumped 22 percent in March to reach $ 1.772 billion. Remittances have posted a huge recovery as seasonal effects of Ramzan kick in.

Furthermore, Advisor to PM, Miftah Ismail has said that the economy is on its way achieve a thirteen year high growth target during the current fiscal year based on the performance during the first three quarters. The claims, however, were smashed by independent policy analysts at Institute of Policy Reforms who have warned of troubling times ahead for the economy as lack of policies prevents the economy from growing at a sustainable pace.  

Index is currently trading at 46710 points, with total volumes at 17.814 million worth 1.525 billion.