KSE-100 Index recovers bullish trend, gains 631 points

Amanullah Khan


KSE-100 Index which was experiencing bearish spell since last week bounced above 51000 levels with a gain of 631 points to close in green at 51373 levels on the first trading session of the week here on Monday.
Amid a market volume of 349 million all shares, Silk Bank was the volume leader of the day with a trade of 16 million shares to its credit.
The other two volume leaders of the day were Perveais Ahmed securities and WorldCall with trade volumes of 13 million and 11million shares to their credit respectively.
Meanwhile, the international oil prices rose for the fourth straight session on Monday on expectations that a pledge by the OPEC and other producers, including Russia, to cut supplies by 1.8 million bpd would be extended to March 2018.
On the contrary, Baker Hughes, on Friday, reported a rise in U.S. oil rigs by 8, making a total of 720 rigs.

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