KSE-100’s trajectory continues upward as E&P sector enhances positive momentum

January 15, 2018 (MLN): KSE-100 Index continued with its upward momentum and gained over 201 points by the day end and closed in at 39614 points, marking a growth of 0.5% from previous session’s closing.

The market picked up pace after the news regarding the drilling at Kekra-1 well at offshore Indus G-Block emerged, as experts believe that the offshore exploration might lead to discovery of massive hydrocarbon reserves, sufficient for 50-year needs of the country.

Primarily, Oil & Gas Exploration Companies seemed to be the driving force for the equity market, as the sector contributed over 161 points to the index. Meanwhile, Fertilizer, Commercial Banks and Oil & Gas Marketing Companies collectively added 127 points to the index. The scrips of PPL (+4.86%), OGDC (+2.94%), ENGRO (+2.64%) and FFC (+1.5%) earned the maximum gains.

Bounded within the range of 353 points, the index touched an intraday high of 39711 points and an intraday low of 39358 points.

Nearly 89.3 million shares were traded today for the scrips listed on the benchmark index with their total value recorded at Rs6.13 billion.

Congruently, the broader KSE All Share index gained around 63 points by the day end and closed at 29006 points.

An intraday high of 29128 points and an intraday low of 28913 points was recorded by the day end for the all share index with a range of 215 points.

Over 122 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs.7 billion.

The market is expected to remain positive in upcoming sessions

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