Daily Stock Report: KSE-100 Continues Positive Trend With 207 Point Gain

The Pakistan Stock Exchange has picked up pace as the benchmark KSE-100 index gained +207.19 points (+0.43%) by the close of the trading session to reach 48457.26 points.

Gains continued in the KSE-100 index with Panama on the backburner as it continued its upward drive on Wednesday.

Market’s participation picked up from yesterday’s lows and volume increased as engineering, technology & communication and chemical sector attracted investor interest.

Shares of 383 companies were traded. At the end of the day, 210 stocks closed higher, 152 declined while 21 remained unchanged.

Aisha Steel Mills Ltd was the volume leader with 23.60 million shares, gaining Rs. 1.02 to close at Rs. 25.34. It was followed by TRG Pakistan Ltd with 17.04 million shares which gained Rs. 0.91 to close at Rs. 52.94, Engro Polymer with 12.92 million shares which accumulated Rs. 0.55 to close at Rs. 26.54 and Pace Pak Ltd with 7.8 million shares which gained Rs. 0.36 to close at Rs. 9.36.

Major gainers of the market were:

Major losers of the market were:

Oil prices rise on potential extension of output cuts. Crude oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016. Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.

U.S. West Texas Intermediate (WTI) crude futures were up 18 cents (0.34 percent) at $53.58 a barrel, their highest since early March.

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