October 31, 2023 (MLN): The benchmark KSE-100 Index has surged above the 52,000 level for the first time since 2017, currently trading at at 52,088.71 showing an increase of 605.78 points or 1.18% [12:08pm PST].
To note, this comes on top of yesterday's gain of 539.09 points or 1.06%.
The market has not been adversely affected by yesterday's decision of the central bank to maintain the policy rate, wherein some experts were of the belief that the market was expecting a small rate cut.
The market also anticipates a softer CPI reading which is set to be released tomorrow.
Furthermore, the market is optimistic about a favorable International Monetary Fund (IMF) review that is scheduled to commence this week.
KSE-100 index is being supported by Commercial Banks with 162.98, Fertilizer with 85.36, Power Generation & Distribution with 72.31, Oil & Gas Exploration Companies with 70.93, and Inv. Banks / Inv. Cos. / Securities Cos. with 53.06 points.
Companies adding points to the index are ENGRO with 81.13, HUBC with 72.67, DAWH with 51.34, UBL with 50.77, and PPL with 37.52 points.
On the flip-side, KSE-100 Index is being let down by Chemical with 4.87, Miscellaneous with 3.9, Insurance with 3.47, Property with 3.07, and Technology & Communication with 2.73 points.
Companies dragging the index lower are TRG with 28.06, EFERT with 9.34, CHCC with 4.77, AICL with 3.47 and FATIMA with 3.39 points.
In the broader market, the All-Share index is trading at 34,607.47 with a net gain of 342.26 points.
| Company | Volume |
|---|---|
| PRL | 32,316,136 |
| POWER | 17,327,500 |
| CNERGY | 6,517,263 |
| PPL | 5,215,445 |
| OGDC | 4,972,275 |
| MLCF | 4,346,265 |
| DCL | 4,302,000 |
| SHEL | 4,291,794 |
| BOP | 3,823,100 |
| FLYNG | 3,582,500 |
To note, the KSE-100 has gained 10,636 points or 25.66% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 11,668 points, equivalent to 28.87% in the KSE-100.
Copyright Mettis Link News
Posted on: 2023-10-31T12:08:25+05:00
