KSE-100 index rebounds on expectation of IMF good news

February 09, 2023 (MNL): Bulls continued leading the capital market on Thursday on IMF news flows which led the benchmark KSE100 Index to gain of 743.27 points or (1.78% DoD) to settle at 42,466.59 level.

Investors’ confidence recovered after dark clouds of economic uncertainty has started to disappear as Federal Minister for Finance and Revenue Senator Ishaq Dar said, "We will give the good news to the nation regarding the IMF deal by tonight.”

Earlier on Wednesday, Prime Minister Shehbaz Shareef assured the IMF delegation of the complete implementation of the program and progress towards goals.

The Index traded in a range of 844.43 points or 2.02% of the previous close, showing an intraday high of 42,567.75 and a low of 41,723.32.

Of the 93 traded companies in the KSE100 Index 77 closed up 12 closed down, while 4 remained unchanged.

The total volume traded for the Index was 205.35 million shares.

Sectors propping up the Index were Commercial Banks with 210 points, Oil & Gas Exploration Companies with 153 points, Cement with 108 points, Fertilizer with 98 points, and Oil & Gas Marketing Companies with 34 points.

The most points added to the Index were by OGDC which contributed 105 points followed by PPL with 67 points, HBL with 66 points, UBL with 47 points, and EFERT with 42 points.

Sector-wise, the Index was let down by Power Generation & Distribution with 14 points, Automobile Assembler with 7 points, and Real Estate Investment Trust with 3 points.

The most points taken off the Index were by SYS which stripped the Index of 23 points followed by HUBC with 22 points, MTL with 13 points, POL with 13 points, and MARI with 6 points.

All Share Volume improved by 70.79mn to 367.25mn shares.

Total number of companies traded was 343. Of the scrips traded 238 closed up, 84 closed down and 21 remained unchanged.

Value Traded up by Rs1.53 billion to Rs13.59bn.

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