KSE – 100 Index gains 221.91 points

KSE – 100 extended gains during the day after opening robust at the outset. Volume and turnover for KSE – 100 100 Index shot up by 95% and 111% respectively as bulls increased their positions in  Tech & Communication, Cement and Chemical stocks.

Pakistan’s Equities have rallied during the last few weeks as bullish investors increase their positions in the Commercial Banks and Cement sectors. Stocks that contributed significantly to the volumes include TRG, LOTCHEM, ANL, DCL and SSGC reflecting 26% of total volumes.

As Monetary Policy Decision gets closer, the SBP’s T-Bill Auction revealed a more likelihood of interest rate raise in the coming meeting. Market’s overall consensus favors this stance, as analysts forecast a 1% increase in rates during 2018. 

Sector-wise all share index turnover was led by Technology & Communication (31.726 million), Cement (30.003 million), and Chemical (26.030 million) with Cable & Electrical Goods (11.589 million) and Food & Personal Care Products (11.222 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +221.91 points up by +0.51%, closing in at 43580.88 points with index high-low range of 44004.13 – 43192.75.

KSE – All Share Index Volume was at 268.135 million shares, value of shares traded for all-shares index reached PKR 13.655 billion.

KSE - 100 Index Chart - Mettis Global

The index movement was limited within the 811.38 points range.

58 companies closed up, whereas 32 were down at the day end.