KSE-100 crosses 42000 mark amid news of potential Chinese bailout

November 2, 2018 (MLN): The KSE-100 index, after being in consolidation for consecutive three days, has finally picked up pace and crossed the 42,000 mark by gaining 288 points by the day end, and closing in at 42,004 points.

 The market remained range bounded due to unrest and poor law and order situation coupled with higher exceptions in the early hours of the day.

However, the expectation regarding a potential Chinese package of atleast $6 billion resulted in a 200 points jump in a matter of few minutes.

The top gaining sectors of today’s session include Commercial Banks, Cement and Fertilizer as they jointly brought over 158 points to the index.

Furthermore, stocks that contributed positively include HBL (+1.94%), ENGRO (+1.95%), UBL (+2.54%), LUCK (+2.37%) and SEARL (+5%).

The index moved within a range of 636 points, with a ceiling of 42,243 and a floor of 41,607 points. Around 209 million shares were traded today having a value of nearly Rs. 11.9 billion.

The KSE All Share index followed the same direction by gaining 156 points and closing in at 30,463 points.

Approx. 292 million shares were traded with a value of Rs. 19.7 billion.

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