KSE-100 gains 363 pts as investors eagerly await mini budget to shore up reserves

January 14, 2019 (MLN): The KSE-100 index witnessed a highly positive trading activity ahead of budgetary measures due to be announced by the Government on January 23^rd. Moreover, assurance by the Finance Minister Asad Umar to provide a conducive environment for encouraging ease of doing business and attracting foreign investment to uplift the economy triggered positive sentiments within investors.

The index jacked up by 363 points by the end of today’s session, and ultimately closed at 39,412 points, marking a growth of 0.93% from previous session’s closing.

Major sectors comprising of Fertilizer, Commercial Banks and Cement benefitted the most as their combined contribution to the index amounted to 198 points. The scrips of FFC (+2.83%), PPL (+1.62%), LUCK (+1.97%) and UBL (+1.6%) earned the maximum gains.

Within a range of 455 points, the index touched an intraday high of 39,412 points and an intraday low of 39,049 points. Nearly 83 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs 4.5 billion.

Congruently, the broader KSE All Share index gained around 204 points by the day end and closed at 28,943 points. It traded nearly 115 million shares today, having a value at Rs 5.4 billion.

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