KMI recovers 78.98 pts over blue chip stocks buying

The Halal stocks index KMI 30 recovered 78.98 points on first day of new week to close at 19,801.92 points as against 19,722.94 points, the closing figure of the previous session.

Trading remained sluggish as only 12.879 million shares were traded.

Blue chip stocks after market correction due to security concerns in Karachi invited fresh buying at attractive valuations. However, volumes remained low due to Pre-Eid season.

Oil & Gas Development Company (OGDC) closed down in value after the news of no new discoveries lately for the biggest exploration company of Pakistan.

Support was provided by fertilizer and selected oil stocks which experienced technical rebound. FED’s reassurance for more stimulus measures if needed had positive impact on the regional markets and also on local bourse.

From: Halal Tamweel