KSE-100 closes in green with slight gain of 60 points

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Amanullah Khan

Karachi—KSE-100 Index with a slight gain of 60 points to close in green at 40355 levels here on Wednesday. One of the major reasons for slow movement of the index was outflow of the foreign investors who were net sellers of Rs34 million during the previous trading session, while most of the trading took place by the retailers for the day trading in the stocks of the smaller value, while the trade volume of all index was also seen drifting downward for the day at 435 million shares.
However, the volume leader of the day was Bank of Punjab with a trade of volume of 52 million shares to their credit. The other two volume leaders were including TRG Pakistan and PACE Pakistan with respective trade volumes of 47 million and 22 million shares.
Oil prices fell $44.20/bbl on Tuesday as Iran downplayed the chance of oil deal, saying that it would like to achieve output of more than 4mnbpd post uplifting of sanctions in Jan-16. However, prices gained later in the day after American Petroleum Institute showed crude inventories fell by 0.75 mnbbl in the week. Market awaits EIA U.S. crude oil inventories data later in the day.

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