KSE-100 recovers ahead of monetary policy announcement

September 28, 2018 (MLN): Following consistent market consolidations for incessant three days, the KSE-100 index marched triumphantly to the green zone after winning 146 points, ultimately closing in at 40,998 points during the last trading session of the month.

The uplift in the market was driven by Commercial banks and Oil & Gas Exploration Companies as they collectively contributed around 159 points to the index.

Banking stocks in particular were mostly influenced by investors’ anticipation regarding the announcement of the monetary policy statement tomorrow by the state bank of Pakistan, combined with expectations of an increase in the key policy rate.

Among the index heavy weights, HBL (+2.71%), PAKT (+4.91%), POL (1.95%) and BAHL (+1.52%) weighed in the rise of the index.

Within a range of 424 point, an intraday high of 41,047 points was recorded whereas the intraday low remained at 40,622 points. About 98.6 million shares traded today for the scrips listed on the benchmark index.

Likewise, the broader KSE All Share gained 173.65 points by the day end, closing in at 29,944 points. An intraday high of 29944, points was recorded for the KSE All Share index, while the intraday low sunk to 29,586 points today.

Over 145 million shares of the scrips listed within the broader KSE All Share Index were traded today, with its value recorded at Rs.6.4 billion.

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Posted on: 2018-09-28T17:48:00+05:00