Opening Bell: Anticipation of equity bailout raises KSE-100’s game

May 22, 2019 (MLN): The KSE 100 index has gained another 719 points in the early hours of the session, and is trading at 34,161 points as of now. Anticipation of the equity bailout fund seems to be strongly driving the investors’ confidence. 

Furthermore, the market participants gained some respite from Forex position, as PKR appreciated in early trade and was being quoted at 151.60/90, compared to the previous day’s close of 151.92. However, it’s still too soon to speculate if the Dollar Rupee parity will settle at this rate.

Fertilizer sector, E&P companies and Commercial Banks seem to be the major driving forces behind this development, as they have collectively contributed around 402 points to the index.

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Posted on: 2019-05-22T10:46:00+05:00