Index moves upward at daybreak

KSE 100 Index is currently trading at 42,035.68 points, positive by 317.13 points. So far 61.813 million shares have been traded in the market. Market has reached an intraday high of 42,042.54 and a low of 41,539.29.

The sectors that are at the lead today include Cement, OMC, E&P and Power Generation and Distribution.

In conversation with Mettis Global, an official spokesperson of Financial Action Task Force (FATF) said that FATF – GAFI will announce a decision regarding Pakistan being in the grey list, this Friday, 29th June 2018. The spokesperson said that no release has been issued by them as of now and the plenary is currently discussing Pakistan’s proposal. The International Regulatory Body has a meeting scheduled on 29 June, 2018 to discuss and make a decision about Pakistan’s status on Anti Money Laundering and Combating Financing of Terrorism.

Furthermore, PIA has suffered losses worth 360 billion rupees over the last ten years. This was disclosed in a forensic audit report of the institution, presented before the Supreme Court on Thursday. After hearing the case, the head of the three member bench and Chief Justice of Pakistan, Justice Saqib Nisar said that an inquiry will be conducted regarding these losses. Therefore, Supreme Court restrains PIA from making any new appointments.

The scripts that are at the lead today in the first half of the current session include Colgate Pakistan (COLG), Millat tractors (MTL) and Lucky Cement (LUCK).