KSE – 100 index gains 770.14 points

KSE – 100 today went on to gain more than 770 points as it closed the session at 44310 points at day end. The index crossed the 44000 threshold today after it was triggered by Rupee depreciation in the open market.

The currency markets were on fire today as the index opened to the fluctuating Rupee in the interbank markets, the dollar jumped by 5 Rupees within the first hour of trading reaching 115.50/116. The movement in the market was significantly jumpy during the day, as the Dollar went as high as 118.50 at one point.

In the KSE – 100 Sectors, Oil & Gas Exploration, Power Generation & Distribution scrips, Textiles and Power that stand to gain the most Rupee depreciation because of either having dollar linked revenues or export heavy sales gained. Meanwhile, Financials also gained during the day as speculations abound over the increases in inflation strengthening the case of an interest rate hike in coming Monetary Policy Decision.

Volume traded increased by 157.54 percent during the session after total volume clocked in at 92.593 million versus 35.952 million on Friday.

Commercial Banks, Oil & Gas Exploration Companies, Power Generation & Distribution Companies and Cement closed the session at the top today after collectively adding away more than 649.56 points.

Sector-wise all share index top ten sector turnover was led by Chemical (38.164 million), Commercial Banks (25.266 million), and Technology & Communication (20.538 million) with Power Generation & Distribution (8.740 million) and Oil & Gas Marketing Companies (6.277 million) stocks trailing at the bottom.

KSE - 100 Index at the day end moved a total of 770.14 points up 1.77 percent, closing in at 44309.74 points with index high – low range of 44404.86 – 43539.60.

KSE – All Share Index Volume was at 219.794 million shares, the value of shares traded for all-shares index reached PKR 10.972 billion.

KSE 100 Chart, Mettis Global

The index moved in the range of 865.26 points.

65 companies closed up, whereas 28 were down at the day end.