December 28, 2023 (MLN): The benchmark KSE-100 index opens in green on Thursday, extending yesterday's climb to trade at 61,249.92 [09:38am PST] showing an increase of 386.30 points or 0.63%.
This comes after the index recorded the third-largest single-day gain in absolute terms yesterday, paring most of its losses from earlier slump.
The rebound can be attributed to overextended selling in the past few days, which created a buying opportunity for value hunters.
KSE-100 index is being supported by Commercial Banks with 96.07, Power Generation & Distribution with 75.09, Oil & Gas Exploration Companies with 60.69, Fertilizer with 42.84, and Technology & Communication with 32.95 points.
Companies adding points to the index are HUBC with 61.29, MEBL with 32.32, OGDC with 22.47, PPL with 21.57, and EFERT with 20.92 points.
In the broader market, the All-Share index is trading at 40,905.69 with a net gain of 221.06 points.
To note, the KSE-100 has gained 19,797 points or 47.76% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 20,829 points, equivalent to 51.53%.
