Stock market resurges amidst optimistic outlook

October 16, 2018 (MLN): The KSE 100 index has demonstrated a tremendous resurgence during the early hours of today’s trading session by the cause of positive sentiments resulting from hope coming from Finance Minister Asad Umar to review and accept recommendations presented by the Pakistan Stock Exchange.

Moreover, it is expected that Foreign behavior will give the direction to the economy and ultimately to the stock market as they go hand in hand.

The index has started on an extremely positive note, and has gained around 470 points during the initial hours of the day and is currently trading at 37,237 points

The index is soaring high by virtue of the scrips traded by Oil & Gas Exploration Companies, Commercial banks and Fertilizer sectors as they have contributed a total of around 247 points to the index so far.

Among the index heavy weights, PPL (+2.55%), POL (3.14%), DAWH (2.82%) and ENGRO (+1.03%) have given rise to the index hitherto.

Within a range of 571 points, an intraday high of 37,339 points has been recorded whereas the intraday low remains at 36,767 points. About 34 million shares traded today for the scrips listed on the benchmark index.

Likewise, the broader KSE All Share gained 274 points and is currently trading at 27,600 points. An intraday high of 27,676 points intraday low of 27,325 points has been recorded so far.

Over 75 million shares of the scrips listed within the broader KSE All Share Index have been traded so far, with its value recorded at Rs. 1.8 billion.

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