Finance

KSE 100 index extended gain by 2.7 percent

karachi, january 8, 2020: KSE 100 index extended its gain by 2.7 percent on WoW basis. Major events during the week were cement sales number posting a 11.18 percent YoY growth, ECC approving removing 2 percent additional customs duties on 152 tariff lines, SBP reserves increasing by $258 million to stand at $20.512 billion trade deficit for Dec-2020 clocking in at US$2.68 billion (up by 32 percent on YoY basis and 26 percent on MoM basis).

Average daily traded volume and value increased by 18 percent and 8.4 percent on WoW basis to 625 million shares and Rs.24.6 billion respectively.

During the outgoing week mutual Funds and foreigners were net buyers of $17.5 million and $3.11 million respectively as of yesterday, on the other hand banks, broker prop books, insurance and individuals net sold equities worth $7.63 million, $4.52 million, $3.54 million and $3.14 million respectively as of yesterday

Continuing its momentum KSE 100 index gained 310 points to close at 45,634 level (up by 0.68 percent). Index heavy weight banking and E&P sector continue to garner investor interest.

Major contribution to the index came from UBL, MCB, OGDC, BAHL and HBL, as they cumulatively contributed 167 points to the index. Traded volume and value for the day stood at 695million shares and Rs.21.6 billion respectively. BYCO was today`s volume leader with record ~163million shares..

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