KSE-100 continues its momentum for the third consecutive day, gains 155 pts

January 23, 2019 (MLN): KSE-100 index maintained the upward trajectory for the third consecutive day, by gaining 155 points in today’s trading session and closing at 40,057 points on the back of expectations regarding a positive outcome from the mini-budget.

Moreover, the news regarding Saudi Arabia and the United Arab Emirates offering Pakistan over $30 Billion in loans and investments, as per a report by Wall Street Journal, also constituted for the positive sentiments amongst investors.

Sectors contributed to the performance include Commercial Banks (+ 87 pts), Automobile Assembler (+33 pts), Power Generation & Distribution (+20 pts), Oil & Gas Marketing Companies (+20 pts) and Pharmaceuticals (+11 pts).

Among the index heavy weights, gainers on the scrips of HBL (2.2%), HUBC (1.15%), UBL (1.2%), ENGRO (0.67%) and OGDC (0.57%) coxed the index towards gains.

Bounded within the range of 296 points, the index touched an intraday high of 40198 points and an intraday low of 39902 points.

Nearly 106 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs5.7 billion.

Correspondingly, the broader KSE All Share index gained around 103 points by the day end and closed at 29341 points.

An intraday high of 29415 points and an intraday low of 29238 points was recorded by the day end for the all share index with a range of 177 points.

Over 179 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs.7.3 billion.

Total 331 companies’ transacted shares in the Stock Market today, out of which 188 recorded gains and 115 sustained losses whereas the share price of 28 companies remained unchanged.

The market is expected to remain positive in upcoming sessions.

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