KSE – 100 gains 836.45 points

KSE – 100 index after closing four consecutive sessions on a negative note , jumped back today bringing the index back above the 40,000 points level. The positivity in the market was led by OGDC PA +2.1%, Pakistan Petroleum PPL PA +3.5%, MCB Bank MCB PA +3.6%, Habib Bank HBL PA +2.2%, Pakistan Oilfields POL PA +3.9% and Engro Corp ENGRO PA +3.1%

Market performed well on the back of CPI numbers of 3.8% which were above market expectations of 3.77% for the month of October. Despite the upward tick in today's session, market activity during the day was insignificant. Market volume for the intraday trading totaled at 63.50 million shares whereas total value traded amounted to PKR 5.83 billion.

Sector-wise All Share index turnover was led by Commercial banks (17.68 million), Engineering (16.53 million) and Technology & Communication (12.11 million) stocks.

Uptick in the international oil prices and subsequent raise in local prices of petroleum products led to a surge in oil and gas exploration companies stocks. Bank Alfalah (BAFL +1.80%) closed positive barely moving by the impact of entire management’s resignation yesterday.

KSE-100 Index at the day end moved a total of +836.45 points up by 2.11%, closing at 40453.64 points. Index Volume was 63.50 million shares, value of shares traded was PKR 5.83 billion with index high-low range of 40558.97 – 39617.19.

The index movement was limited within the 941.78 points range.

76 companies closed up, whereas 14 were down at the day end.