KSE-100 at all-time high of 38500 levels


Amanullah Khan

Karachi—Despite falling international oil prices to a five day low yet re-entry of foreign investors portfolio supported by strong corporate results, the KSE-100 Index in a surprise bullish move gained over 1000 points to close in green at an all time high 38520 levels here on Wednesday.
It may be noted that the international oil prices fell for the fifth day to a low of US$47.50.
The drop came as API inventory data showed an increase of 1.2mnbbl while analysts had expected a drop of 2.3mnbbl.
Also impacting oil markets has been a general shift in sentiment from risky investments to safe haven assets.
Amid a brisk trading activity 201 stocks were the gainers while 117 were the losers while 16 remained unchanged. K Electric retains its position as a top performer with a hefty trade of 44 million shares placing it as a volume leader of the day out of a market volume o 243 million shares. The Pakistan international bulk terminal was the second volume leader with a trade of 14 million shares to their credit while Engro Fertilizer was third volume leader with a trade of 9.34 million shares.

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