KSE Index up by 1000 while PKR appreciates, Saudi bailout recovers investor confidence

October 24, 2018 (MLN): Bulls return to the capital markets as the news of Saudi bailout revives investor’s confidence. The benchmark KSE – 100 index mounts by over a thousand points, not only breaking through the 38,000 points mark but logging in considerably higher at 38,896 points.

On the foreign exchange front, the value of Pakistani rupee PKR against US Dollar (USD) has appreciated abruptly, by over 1% or Rs.1.36 in the open markets, during early trade. Dollar is currently being traded at PKR 132.50/133 per USD.

The index is soaring high by virtue of the scrips traded by Commercial banks, Fertilizer, Cement and Oil & Gas Exploration Companies, as they have contributed a total of around 754 points to the index so far.

Within a range of 1236 points, an intraday high of 38,950 points has been recorded whereas the intraday low remains at 37,714 points. About 47 million shares traded today for the scrips listed on the benchmark index.

Likewise, the broader KSE All Share gained 687 points and is currently trading at 28,684 points. An intraday high of 28,685 points intraday low of 27,990 points has been recorded so far.

Over 103 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs. 3.1 billion.

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