KSE – 100 gains 43 points

KSE – 100 index remained under extreme pressure as volatility ensued at day break. The index dipped downwards throughout the day reaching its lowest after losing 754 points. However, during the later period of the day, index staged a comeback after Power Gen & Distribution & Commercial Banks along with Oil & Gas Exploration scrips helped the effort.

The market during the day was abuzz with the ongoing decline in value of Rupee, losing more than 2% against the greenback through the day the Rupee closed the session 110.50/111 in the Interbank market. In addition to that, the index was lent support by rising oil prices which have been bullish as a key North Sea pipeline was shut down after reports of leakage.

Sector-wise all share index turnover was led by Commercial Banks (37.01 million), Technology & Communication (24.77 million), Insurance (17.72 million) and with Textile Composite (8.74 million) and Fertilizer (5.79 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +43.41 points up by 0.11%, closing in at 38525.11 points with index high-low range of 38620.66 – 37736.73.

KSE – All Share Index Volume was at 195.490 million shares, value of shares traded for all-shares index reached PKR 8.683 billion.

The index movement was limited within the 883.93 points range.

37 companies closed up, whereas 53 were down at the day end.