KSE-100 index gains 74 points to close in green

Amanullah Khan

Karachi—KSE-100 Index gained 74.67 points to close in green at 32,876 levels on Friday which seems to be resumption of the blush momentum on the back of visible stability in international oil market. The index turned positive after a series of lackluster sessions continued this week as well as the index traded sideways, closing in the red however the overall market volume remain thin at 109 million shares.
Meanwhile in an important development, the Federal Board of Revenue (FBR) has notified the new rate of regulatory duty (RD) on finished iron and steel products. The development removes uncertainty regarding the duty implementation on steel products and bodes well for Mughal Iron and Steel Industries (Mughal) and Amreli Steel Ltd (ASTL). On Friday, the trading activity of Sui Northern Gas was the volume leader of the day with a trade of 11.32 million shares to their credit while Dewan Motors and TRG Pakistan were the second and third volume leaders with a respective trade of 7.86 million and 5.72 million shares.

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