KSE-100 index dominated by the bulls today

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·        KSE-100 index was dominated by the bulls today. Across the board rally was witnessed as Chinese consortium of banks signed an RMB 15 billion ($2.3 billion) loan facility agreement which resulted in recovery of Pak Rupee against USD. Volumes remained healthy across the board. The IPP sector remained in limelight as Economic Coordination Committee (ECC) of the Cabinet approved Rs149 billion for the power sector to be paid to the IPPs and K-Electric in the current fiscal year. Moreover, profit taking was observed in the last trading hour.

·        The Index closed at 42,716.97pts, up by 258.83pts (+0.61% DoD). Sectors contributing to the performance include Power (+74.8pts), Banks (+52.2pts), Technology (+26.4pts), OMC’s (+25.9pts) and Cement (+15.0pts).

·        Volumes increased from 266.1mn shares to 349.5mn shares (+31.3% DoD). Average traded value also increased by 19.7% to reach US$ 48.9mn as against US$ 40.9mn.

·        Stocks that contributed significantly to the volumes are CNERGY, PRL, KEL, UNITY and TPLP.

Courtesy – AHL

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