KMI gains 266.43pts over healthy economic data

With inflation numbers on a downward trend, likelihood of a discount rate cut is increasing. The market is looking for positive triggers and foreign institutional support. Relaxation in policy rate in next MPS could also help bring positive activities in the market in coming days.

The Halal stocks index KMI 30 went up by 266.43 points on Tuesday to close at 20,978.47 points as against 20,712.04 points, the closing figure of the previous session.

KMI gained over the healthy economic data reported by State Bank of Pakistan that inflation stood at 11.56 percent in August against market consensus of 13.20 percent.

Oil and Gas Development Company (OGDC) index heavyweight contributed to the rally and closed at its 5 percent upper limit on their day of glory as OGDC celebrated 50 years of their glory on Tuesday.

From: Halal Tamweel