KSE-100 index closes green

Amanullah Khan

Karachi

Amid an improved market volume of 334 million all market shares, World Call managed to be the volume leader of the day with a trade of 55 million shares to its credit, while the other two volume leaders were including Engro Polymer and Dewan Cement with trade volumes of 21 million and 16 million shares to their credit respectively.
The reclassification of PSX from frontier to emerging market by MSCI on May 15 likely to be crucial beginning of a new journey for the bench mark KSE=100 with the arrival of the foreign investment specially stocks of the companies having an outreach to domestic development in respect of CPEC as well as export market strength.
Meanwhile the international oil prices supported by API data: Oil prices fell initially in the previous session to US$45.51/bbl but recovered its losses after American Petroleum Institute (API) reported a hefty draw of 5.8 million barrels, compared with the expectations for a decline of 1.8 million barrels.
However, participants will wait for EIA’s crude oil inventories data later in the day.

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