Pakistan Stock Exchange rises 46.40 points

Index traded bullish during the day, after witnessing a positive bump earlier and a downward pull at day break. Participation surged today reaching 92.31 million dollars up from yesterday.

K Electric (KEL +5.71%) remained positive throughout the day as Department of Defense cleared the sale of K-Electric to a Chinese company. SEARL closed on its upper lock today after reporting a substantial increase in Revenue by more than 13 percent to reach 10.7 billion for the reported period.

The major market drivers of the day were SEARL (+5.00%), MEBL (+4.01%), KEL (+5.71%) and HBL (+0.72%), collectively contributing 85.89 points.

State Bank of Pakistan released the Monetary Policy Statement today, giving the decision of keeping the policy unchanged. The statement said that, “Following detailed deliberations and taking into consideration the above mentioned developments, the Monetary Policy Committee has decided to keep the policy rate at 5.75%”.

KSE-100 Index at the day end gained a total of 46.40 points up by 0.11%, closing at 42409.27 points. Index Volume was 92.31 million shares, value of shares traded was PKR 4.21 billion with index low-high range of 42286.60 – 42543.20.