September 15, 2023 (MLN): The benchmark KSE-100 Index has regained the crucial 46,000 level, rising by around 390 points or 0.81% on Friday during early trade [10:34am PST].
The market welcomed the SBP’s decision to keep the policy rate unchanged at 22%, contrary to the expectations of a 100-200 basis points hike.
The SBP cited the latest inflation outturn reflecting the continuing declining trend in inflation from its peak of 38% in May to 27.4% in August 2023 for maintaining the status quo.
The total Volume of the KSE100 Index was 34.85 million shares.
The KSE-100 index gained points from various sectors, led by Cement with 106.54pts. Other sectors that contributed positively were Commercial Banks with 47.64, Oil & Gas Exploration Companies with 45.53, Miscellaneous with 25.63, and Power Generation & Distribution with 23.26pts.
Among the companies, LUCK was the top contributor to the KSE-100 index, with 43.55 points, followed by PSEL with 28.08 points, MCB with 22.09 points, OGDC with 19.69 points, and CHCC with 19.23 points.
