Index opened the day with a jubilant start as investors flocked to make the most of the policy raise on Friday last week. The unexpected raise took most of the industry by surprise. Central Bank decided to increase the policy rate by 25bps to 6% in a bid to pre-empt the overheating economy and inflation.

BAFL (+4.98%), FABL (+4.99%), BAHL (5%), AKBL (+4.86%), MEBL (+4.98%) and SCBPL (+4.98%) all closed the day on their respective upper locks after financial sector witnessed a significant jump investor participation.

Autos, Fertilizers, Cements, Materials, Industrials and Consumer Staples were all in red as they were received a beating during the day resulting from investors’ profit taking. Top laggards during the day were LUCK (-2.88%), FFC (-2.36%), MLCF (-4.72%), DGKC (-2.22%), ENGRO (-0.78%), PIBTL (-2.89%), PICT (-4.07%), PAEL (1.20%), PAKT (-2.44%), NESTLE (- 2.11%) and NATF (-1.94%). FFL (-4.97%) and FFBL (-4.98%).

Sector-wise all share index turnover was led by Commercial Banks (50.118 million), Cement (32.683 million), and Chemical (10.80 million) with Textile Spinning (6.289 million) and Insurance (6.071 million) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of -93.83 points down by -0.21%, closing in at 44457.30 points with index high-low range of 44855.77 – 44337.72.

KSE – All Share Index Volume was at 192.039 million shares, value of shares traded for all-shares index reached PKR 8.042 billion.

KSE – 100 Index Chart – Mettis Global

The index movement was limited within the 518.05 points range.

35 companies closed up, whereas 55 were down at the day end.