KSE-100 gains 0.67%

The KSE-100 ended its side-ways movement, increasing 0.67% on Thursday as index-heavy oil/gas and automobile sectors led the charge.

At close, the KSE-100 settled at 45,398.31 after an increase of 303.20 points or 0.67%.

KSE-100 closes marginally positive as banks, oil/gas sectors help

Investors, delighted at the new programme with the International Monetary Fund (IMF), had resorted to profit-booking earlier during the week. The index has still rallied 9.5% in the current month.

“Happy days returned to the Pakistan Stock Exchange following a 2.4% dip for the KSE-100,” said brokerage house Arif Habib Limited in a post-market note. “(We) anticipate the KSE-100 to target 47k in the near term as price expansion phase continues.

Volume on the all-share index massively increased to 464.23 million from 245.45 million on Wednesday. The value of shares traded increased to Rs10.1 billion from Rs9.4 billion in the previous session.

WorldCall Telecom was the volume leader with 185.19 million shares followed by Bank of Punjab with 19.5 million shares and K-Electric with 15.89 million shares.

Shares of 347 companies were traded on Thursday, of which 227 registered an increase, 93 recorded a fall and 27 remained unchanged.