KSE – 100 rises 545.13 points

KSE – 100 witnessed a positive session after a lackluster Thursday, index gained more than 550 points during the day on the back of banking and oil stocks. Activity in oil stocks has picked up significantly in the last few sessions as oil prices in the international continue to make a comeback amid talks of OPEC led oil-supply cut extensions.

Commercial Banks, Oil & Gas Exploration Companies and Fertilizer stocks helped the index prop up during today’s session. BAHL +3.36%, MCB +2.71%, POL +2.17% and KAPCO

Sector-wise all share index turnover was led by Technology & Communication (25.62 million), Engineering (11.64 million), and Cable & Electricity Goods (10.64 million).

Oil prices continue to make headways as supply side continues to crunch.

OPEC led cuts are currently being unofficially reported to extend beyond March, 2018 as Saudi led cartel (OPEC) eyes to bolster oil prices in the international markets.

KSE-100 Index at the day end moved a total of +565.13 points up by 1.4%, closing at 41064 points. Index Volume was 60.90 million shares, value of shares traded was PKR 5.97 billion with index high-low range of 41115.5 – 40453.03.

The index movement was limited within the 662.47 points range.

69 companies closed up, whereas 16 were down at the day end.