KSE – 100 gains 507.7 points

KSE – 100 index extended gains throughout the day today after closing positive on yesterday’s close. The early market went into a spiral downwards after resuming the upward tick. Commercial Banks carried forward yesterday’s momentum and helped boost the market coupled with resolution of key political issues helping the index forward.

Investors are becoming increasingly interested in the Banking Sector after Rupee devaluation as rate hike seems much more plausible during the March MPS as inflation picks up in the 1^st quarter of 2018.  

Sector-wise all share index turnover was led by Cement (23.069 million), Technology & Communication (22.541 million), Commercial Banks (18.447 million) and with Textile Composite (7.011 million) and Inv. Banks/Inv. Cos./Securities Cos. (6.751 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +507.71 points up by +1.33%, closing in at 38715.77 points with index high-low range of 38793.99 – 38014.84.

KSE – All Share Index Volume was at 179.631 million shares, value of shares traded for all-shares index reached PKR 6.928 billion.

The index movement was limited within the 779.15 points range.

69 companies closed up, whereas 17 were down at the day end.