Pakistan’s KSE – 100 Index gains 244 points

Pakistan’s KSE – 100 Index today closed gaining 244 points after it closed it 43239.44 points up by 0.57 percent. Despite a positive close, the index was marred by low participation after the investors continue to see the political developments in the country caution.

However, the sentiment was buoyed somewhat by Friday’s the announcement of Finance Minister Rana Afzal regarding the amnesty scheme which is expected to slash the corporate taxes by 10 percent. Banking stocks remained the laggards during the day after the Supreme Court ordered three banks – United Bank, Habib Bank and Allied Bank – to pay Rupees 8,000 a month to the retired employees.

Fertilizer, Cement, Oil & Gas Exploration, Oil & Gas Marketing and Power Generation and Distribution closed the session at the top after collectively contributing more than 237 points.

Volume traded decreased by 23.31% during the session after total volume clocked in at 49.474 million versus 64.515 million yesterday.

Sector-wise all share index turnover was led by Chemical (27.229 million), Refinery (16.301 million), and Engineering (14.499 million) with Cable & Electrical Goods (5.925 million) and Fertilizer (5.432 million) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of +244.48 points up 0.57 percent, closing in at 43239.44 points with index high – low range of 43323.18 – 42994.96.

KSE – All Share Index Volume was at 150.724 million shares, value of shares traded for all-shares index reached PKR 7.108 billion.

KSE 100 Chart, Mettis Global

The index moved in the range of 328.22 points.

55 companies closed up, whereas 30 were down at the day end.