KSE 100 Index Gains 842 Points

Staff Report:

Continuing its momentum KSE 100 Index gained 842 points to close at 114,880 level (up by 0.74%), this gain can be attributed to monetary policy meeting on Monday where market expects cut in policy rate in the range of 100 to 150bps.Major positive contribution to the index acme from FFC, ENGRO, SYS, EFERT, HBL, UBL and SNGP, as they cumulatively contributed 815 points to the index.

Traded values wise FFC (Rs.3.4bn), SEARL (Rs.2.95bn), ENGROH (Rs.1.73bn), DGKC (Rs.1.03bn), PSO (Rs.954mn), SNGP (Rs.869mn) and MARI (Rs.862mn) dominated the trading activity. Traded volume and value for the day stood at 631mn shares and Rs..37.8bn respectively.KSE-100 Sinks Amid Profit-Taking, Closes Down 366 Points

KSE 100 Index closed slightly negative (-0.34%) on WoW basis, this negative closing can be accredited to talks on placing restriction on investment in stock market by non-tax filer and hefty selling by banking sector during the outgoing week.

Other development during the outgoing week were: Finance Mini¬ster Muhammad Aurangzeb that the government has agreed terms for a $1 billion loan with two Middle Eastern banks at a six to seven per cent interest rate and T-Bill auction held during the week where participation of Rs1,401bn was seen with government raising Rs326bn and yields have declined by 20-45bps. Average daily traded volume and value for the week stood at 699mn shares and PKR.35bn respectively.