KSE – 100 gains 422 points

KSE – 100 index closed the session today on a positive note as investor participation almost doubled during the day. Furthermore, the increase trading brought in more value compared to yesterday. Total Value traded in KSE – 100 went from 3.42 billion to 8.349 billion; an increase of 144%.

In the news today, Nishat Hyundai Motors Ltd. has announced that it will break ground for its Automobile Unit on 20^th of December in Faisalabad to undertake assembly, sale of passenger and 1 ton commercial vehicles in Pakistan.

Investors were awaiting the IK – JKT verdict set to be announced by the Supreme Court during the day, which was expected to be announced on 2 pm. The Court giving the verdict at 5:00 pm disqualified Jahangir Khan Tareen and cleared Imran Khan of the charges against him.

Sector-wise all share index turnover was led by Commercial Banks (22.53 million), Technology & Communication (21.01 million), Power Generation and Distribution (12.277 million) and with Textile Composite (5.125 million) and Chemical (4.469 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +422.35 points up by 1.10%, closing in at 38645.90 points with index high-low range of 38924.25 – 38192.70.

KSE – All Share Index Volume was at 139.766 million shares, value of shares traded for all-shares index reached PKR 9.116 billion.

The index movement was limited within the 731.55 points range.

62 companies closed up, whereas 24 were down at the day end.