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Home / Markets / KSE-100 hits back with 381pts on Rs19/litre cut in POL, 11yr low inflation of 3.96%
KSE-100 hits back with 381pts on Rs19/litre cut in POL, 11yr low inflation of 3.96%

KSE-100 hits back with 381pts on Rs19/litre cut in POL, 11yr low inflation of 3.96%

KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 381 points or 1.12 percent to reach 31680.72 points and volume of 201,904,440 shares on Tuesday.

The market opened at the overnight closing of 31299.72 points and remained on positive noted.

The benchmark KSE 100-index appeared buoyant and set the pace to cross the 32,000 level. The bull-run helped the market consolidated its position, boosting confidence of the investors.

It seemed the fall crude prices have energized the market as investors remained engaged, keeping the index ticking upwards.

Stocks cheered up at the falling commodities prices, especially POL prices by Rs19 in a month and lowest inflation rate of 3.96% in 11 years as benchmark KSE 100-index gained 314.12 points or 1 percent to climb up to 31,613.84 points till midday trading.

As a whole 40.95 per cent of companies witnessed increase in their shares while 19.57 per cent lost their share value and 2.30 percent companies remained stable.

High and Low were 31721.83 and 31299.72 respectively. Total volume traded in the market was 201,904,440 shares.

Analysts and experts attributed the bullish trend to falling prices of commodities, especially the oil and lowest inflation which was at six years low. They said that rising political noise and major fall in global crude oil prices kept selling pressure in oil sector amid fears for inventory losses.