KMI gains 197.22pts; concerns over damage from floods remain

The market is expected to remain range bound as the market is looking for positive triggers and concerns regarding the colossal damage to crops and infrastructure with diminished ability to seek foreign assistance poses questions about macroeconomic stability in months to come.

The Halal stocks index KMI 30 went up by 197.22 points to close at 20,519.51 points as against 20,322.29 points, the closing figure of the previous session.

Pakistan State Oil (PSO) and Fauji Fertilizer Bin Qasim (FFBL) bought positive momentum. Institutional and foreign fund buying in PSO scrip over rumors.

Local bourse also followed the global stocks which rose today after the head of the European Commission said it would soon present options for the introduction of euro area bonds.

The Halal index witnessed 40.883 million shares volumes during the trading session. Investors renewed interest in fresh buying brought positive activities in the market.

From: Halal Tamweel