Opening Bell: KSE-100 Index recovers by over 449 points
MG News | January 24, 2023 at 09:49 AM GMT+05:00
January 24, 2023 (MLN): Pakistan stock exchange on Tuesday open on a bullish note as investors opted for value buying which led the KSE-100 index to gain 449 points or 1.17% [9:49 PST] so far and is currently trading at 38,893.01 points level.
Sector-wise, oil & gas exploration, fertilizers, commercial banks, cement, and technology & communication sectors have witnessed the maximum gains so far.
Scrip-wise, PSEL, LCI, ENGRO, INDU, MTL, ARPL, and SYS observed the highest-buying activity.
It is pertinent to mention that the market opened on a positive note despite the interest rate hike of 100 bps by SBP in yesterday's MPC meeting.
The interest rate hike of 100 bps to 17% was incorporated and there were fears of a 200bps hike but that did not materialize, Fahad Rauf, Head of Research at Ismail Iqbal Securities told Mettis Link News.
Further SBP has explained that the debt repayments are only $3bn for the next 5 months, he added.
On the economic front, things are still not appealing as IMF has turned down Pakistan’s request of sending its mission for the ninth review before all prior actions are taken, a report by Ismail Iqbal Securities said.
Meanwhile, Governor SBP Jameel Ahmad said in an interview that GDP growth in FY23 will remain below 2%.
Copyright Mettis Link News
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| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,021.20 228.53M | -0.42% -718.25 |
| ALLSHR | 103,836.39 572.65M | -0.41% -422.85 |
| KSE30 | 50,951.99 89.47M | -0.52% -264.77 |
| KMI30 | 240,633.87 93.99M | -0.31% -756.80 |
| KMIALLSHR | 66,572.75 300.61M | -0.28% -185.59 |
| BKTi | 48,673.23 31.18M | -0.70% -343.86 |
| OGTi | 33,702.25 6.35M | -0.61% -205.57 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 64,715.00 | 64,825.00 63,875.00 | 500.00 0.78% |
| BRENT CRUDE | 98.70 | 101.19 95.13 | -1.99 -1.98% |
| RICHARDS BAY COAL MONTHLY | 105.75 | 0.00 0.00 | -1.55 -1.44% |
| ROTTERDAM COAL MONTHLY | 121.10 | 121.10 121.10 | 0.70 0.58% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 90.47 | 0.00 0.00 | 1.16 1.30% |
| SUGAR #11 WORLD | 14.76 | 14.79 14.54 | 0.07 0.48% |
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