KSE – 100 gains 294 points

KSE – 100 closed the day positive despite a significant decline in the investor participation: 52% decline. The investor participation took a dent as they waited for some clarity in the markets as fluctuating prices for oil, a weakening PKR, and lack of political certainty.

Furthermore, Senate summoned the various financial heads from State Bank and Ministry of Finance to explain the decline in Rupee value. Despite a positive close, there is no certainty over how much the index will reverse from its steep declines.

Individuals and Foreign Investors continue to lose their faith in the market as they offload positions in different sectors. The recent uncertainty in Pakistan’s Politics has had individual and foreign investors worried who are looking to make profits in short term.

Individuals and Foreign Corporates sold 11.7 million of their equities during yesterday’s session, however, due to a spree of 9.49 million buying from companies in Commercial Banks, Technology & Communication, and Textile Composite helped the market pick up.

Sector-wise all share index turnover was led by Power Generation & Distribution (21.19 million), Technology & Communication (15.35 million), Commercial Banks (11.09 million) and with Engineering (5.38 million) and Automobile Assembler (4.83 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +294.54 points up by 0.76%, closing in at 38819.65 points with index high-low range of 38884.89 – 38525.11.

KSE – All Share Index Volume was at 117.709 million shares, value of shares traded for all-shares index reached PKR 5.373 billion.

The index movement was limited within the 359.78 points range.

69 companies closed up, whereas 20 were down at the day end.