KARACHI: KSE-100 Index managed to remain above 40000 levels with a gain of 52 points to close in green at 40,136 levels here on Thursday. The improved corporate results as well as participation of foreign investors indicates that the index will keep on moving forward in the coming trading sessions.
In a huge trading volume of 565 million shares traded in a brisk trading activity Pace Pakistan was the volume leader of the day with a trade volume of over 50 million shares to their credit while Dewan Fibre with trade of 48 million shares and Azgard Nine Ltd with a trade of 34 million shares were second and third volume leaders respectively.
The international Oil prices however fell to $43.80/bbl in previous session as investors are doubtful about producers’ agreement to freeze oil output this month. Saudi Arabia’s Foreign Minister said that it will freeze oil output only if other producers agree to restrict their production. However, Iran said that it will cooperate with Saudi Arabia and Russia to support oil prices. In addition, The American Petroleum Institute is set to release the weekly oil data on Wednesday, delayed by a day due to the Labour Day holiday on Monday.