KSE-100 ends the week on a stellar note, thanks to ongoing Pakistan-IMF talks

April 12, 2019 (MLN): The equity markets ended the last session of the week on a stellar note, thanks to the ongoing talks between IMF and Pakistan which commenced on the sidelines of the World Bank meeting. Furthermore, the index gained momentum from rumors regarding a potential government bailout for stabilizing equity markets.  

Moreover, investors remained anxious ahead of the MSCI rebalancing, which is expected to take place soon. Consequently, the benchmark index closed the day at 37,337 mark, after gaining 550 points.

The index was mainly driven by Commercial Banks, Cement and Fertilizer sectors, which facilitated the index by contributing a total of around 300 points. Moreover, the scrips that backed KSE-100 index the most included LUCK (+4.89%), PSO (+4.73%), HBL (+1.82%), BAHL (+2.11%) and ENGRO (+1.20%).

Moreover, the index witnessed trading of 125 million shares of the listed scrips, having a total value of Rs. 4.6 billion. Within a range of 679 points, the index touched an intraday high of 37,420 points and an intraday low of 36,741 points. 

The broader KSE All Share index also ended the session on a brighter note, as it gained around 335 points and closed at 27,405 points. It traded nearly 189 million shares, having a value of Rs. 5.3 billion.

Copyright Mettis Link News