KSE – 100 gains 364 points

KSE – 100 extended again today after giving a relatively mute performance yesterday. The week’s positive sentiment has had local investors participate in the index off late. KSE All Share Index Volume reached 222 million shares increasing the value traded to reach 8.56 billion during the day.

In the company news today, Mughal Iron Steel announced today that they have gained approval from the Lahore Electric Supply Company to expand their existing 19.99 MW Grid Station Load to 59.99MW. The move would help the company achieve power independence allowing to run the operations smoothly for future production.

Oil prices remained stable today after reaching the 2 ½ year highs on the back OPEC led cuts and the ongoing demand surge across the world. Furthermore, Cement sector has witnessed a sales boom for the last four years, more so this fiscal as total dispatches reached 22.243 million tons in July-December 2017 against 19.806 million tons during corresponding period of last fiscal.

Sector-wise all share index turnover was led by Power Generation & Distribution (35.938 million), Technology & Communication (28.844 million), Cement (27.405 million) and with Fertilizer (6.405 million) and Transport (4.955 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +364.44 points up by +0.88%, closing in at 41908.71 points with index high-low range of 41995.66 – 41544.27.

KSE – All Share Index Volume was at 222.145 million shares, value of shares traded for all-shares index reached PKR 8.564 billion.

The index movement was limited within the 451.39 points range.

52 companies closed up, whereas 32 were down at the day end.