Closing Bell: Bulls dominate the session as index gains 1.39%

KSE-100 index witnessed a rebound upwards in today’s session as it gained more than 500 points at close.

Investors were mostly interested in the Steel sector; Mughal, ASTL and Fertilizer; FFBL and FFC stocks. However, the sentiment was overall positive.

FTSE Global Index Series included five of PSX stocks in the Asia Pacific; MCB, SNGP, BAFL, MTL and THALL. Adding to the positive sentiment, CPI numbers were right in the expected bracket. The CPI clocked in at 3.42 which fell in the range of market expectations between 3.20 – 3.60%.

FTSE inclusion, attractive valuations of stocks and CPI numbers all added to the general positive uptick of the index.

In today’s corporate alerts; EMCO notified the exchange regarding approval of Sale of Land and machinery of Tile plant.

The top points contributors to today’s session included; OGDC +4.66%, UBL +2.68%, SNGP +4.85%, BAHL +4.77% and DAWH +3.51%.

KSE-100 Index at the day end gained a total of 572.21 points, closing at 41779.20 points. Index touched an intraday high of 41833.70 points whereas touching a low of 41070.99.

In percentage terms, index was up by 1.39%.