KSE-100 stretches winning streak to 5th session on the back of investment friendly budget

January 24, 2019 (MLN): The benchmark KSE – 100 index gained another 231 points at today’s close, steadily mounting the upward trend for the fifth consecutive day.

At opening bell, the index soared high up to 40,592 points on account of the investment friendly mini budget announcement last eve. However, in the face of strong selling pressure it gradually dropped and continued trading sideways for most of the day’s trade.

During the day, it peaked to an intraday high of 40, 609 points and dropped as low as 40,057 points, maintaining a range of 551 points.

Today’s gains were mainly attributed to the Commercial Banks which as a sector chipped in 126 points to the 100 – index. In particular, gains on the scrips of HBL (+2.35%) and MCB (2.59%) translated into overall index rise.

A total of 158.8 million shares were traded today, at PKR 8.4 billion.

On the other hand, the broader KSE All Share index gained 112 points today, marking slight increase of 0.38% over yesterday’s closing and concluding the day at 29,453 points.

Within this index, 245.9 million shares were traded at PKR 9.9 billion.

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