KSE – 100 index gains 288.64 points

The reversal came at mid-day, the index was well on its way to continue yesterday’s losses right when news of a bill passage pertinent to elections came to the news during the middle of day. The news of Delimitation Bill Passage and Army Chief’s resonation of the axiom that “Democracy above all” helped instill some confidence in investors.

Market Participation went significantly up by 34% during the day to reach 74.98 million shares. Commercial Banks also contributed to positivity during today’s session as HBL +4.96%, UBL +4.57%, MCB +2.65% and BAFL +3.18% all closed positive.

Analysts argue that index is currently undervalued, as election date gets announced and markets can see a roadmap for the Government shift in the coming year; the market performance might get better.

Sector-wise all share index turnover was led by Technology & Communication (32.199 million), Commercial Banks (20.511 million), Power Generation & Distribution (10.062 million) and with Textile Composite (4.379 million) and Cable & Electrical Goods (4.180 million) stocks trailing at the bottom.

KSE-100 Index at the day end moved a total of +288.64 points up by +0.76%, closing in at 38208.06 points with index high-low range of 38323.55 – 37842.52.

KSE – All Share Index Volume was at 129.652 million shares, value of shares traded for all-shares index reached PKR 4.942 billion.

The index movement was limited within the 481.03 points range.

44 companies closed up, whereas 39 were down at the day end.