Financial assistance from friendly countries lifts index by 1014 pts

January 7, 2018 (MLN): KSE-100 Index continued with its upward momentum and gained over 1014 points by the day end and closed in at 38562 points. The market performed terrifically due to financial support from friendly countries, as well as absence of selling spree from institutional investors. Furthermore, positive report by Fitch Solutions also helped in uplifting investors’ sentiments.

Commercial Banks, Oil & Gas Exploration Companies, Fertilizer, Cement and Power Generation & Distribution sector emerged as the major net gainers as they contributed 302, 202, 157, 101 and 86 points to the index respectively.

Among the index heavy weights, the scrips of PPL (4.40%), UBL (4.99%), ENGRO (3.52%), OGDC (3.78%) and HBL (3.34%) coxed the index towards gains.

Moving within the range of 1079 points, the index touched an intraday high of 38626 points and an intraday low of 37547 points.

Around 103 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs.6 billion.

On a larger front, KSE All share also gained 529 points by the day end and closed in at 28529 points.

An intraday high of 28605 points and an intraday low of 28000 points was recorded by the day end for the all share index with a range of 605 points.

Over 157 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs.7 billion.

Copyright Mettis Link News

Posted on: 2019-01-07T17:47:00+05:00

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