KSE – 100 gains 57 points

Pakistan’s Equities closed another session positive today; making today the 10^th consecutive since KSE – 100 index has reported gains. The index has been relatively positive since the political calm in Islamabad as political parties strategize for the next elections.

In the business news, Sazgar Engineering today shelved their expansion plans for Auto – Rickshaws in an effort to speed up the completion of Four – Wheeler plant worth Rs. 1,760 million with a production capacity of 24,000 units per annum. The company informed stakeholders that it plans to work the existing facilities overtime to match the local demand.

In other news, K-Electric was also positive throughout the day after the rumors of coming at a deal with PEMRA regarding the Multi Year Tariff were expected to be finalized in the coming week. Furthermore, rumor also has it that the company is also expected to finalize the deal with Shanghai Electric after necessary bureaucratic approvals.  

Sector-wise all share index turnover was led by Power Generation & Distribution (50.414 million), Technology & Communication (25.364 million), Cement (25.00275 million) and with Oil & Gas Marketing Cos. (7.973 million) and Fertilizer (6.275 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +57.40 points up by +0.14%, closing in at 41544.27 points with index high-low range of 41819.75 – 41289.17.

KSE – All Share Index Volume was at 233.607 million shares, value of shares traded for all-shares index reached PKR 9.354 billion.

The index movement was limited within the 530.58 points range.

42 companies closed up, whereas 46 were down at the day end.