Investors turn bullish as KSE 100 index closed at 11,762 with highest volumes of 97 million for the week. National Saving Schemes reduced the interest rates on all products in the vicinity of 50-100bps with benchmark Special Saving Certificate (SSC) now offering 12.5 per cent p.a down from 13.33 per cent p.a.
KSE 100 index closed at 11761.97 with the gain of 119.51 points, while KSE 30 index scored 87.03 points to close at 11220.93 levels. All Share index closed at 8159.12 levels after gaining 84.61 points. Prices of 185 stocks inclined, 80 declined and 89 remain unchanged.
Oil marketing companies led the bullish rally today as Oil and Gas Regulatory Authority (OGRA) is expected to increase petroleum prices by 2.5 per cent to 6 per cent in its monthly review later today. PSO managed to close up 2.9 per cent at Rs254.58 with total of 0.75mn shares traded today. FII’s were rumored sellers in telecom and index heavy weights while locals were buyers in fertilizers and energy stocks. PTC was once again the market volume leader with 13.8 million shares and fertilizer stocks dominated the top ten volume leaders, accounting for 24.5 million shares traded. The oil and banking sectors also mimicked the bullish fever of the fertiliser sector as major scrips ended in positive territory. While the entire week witnessed strong volumes, without a definitive resolution to the Pak-US tension, the market remains sensitive to the political drama playing out.
