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Closing: Bulls at KSE bounce back amid PTI, PAT talks with govt

Closing: Bulls at KSE bounce back amid PTI, PAT talks with govt

KARACHI: The Karachi Stock Exchange (KSE) 100-index gained 71.82 points to reach 29585.60 mark on the first day of the trading week, Monday, as the positive signs were prevailing about the resolution of the current political standoff in the federal capital.

The market opened at 29513.78 with positive sentiments, kept on marching upward and taken the total trade volume to 49,058,320 shares.

Highest increase was recorded in the share value of FaSuji Cement, Telecard Limited, Jah.Sidd. Co and Engro Corporation while the Unilever Pak, Siemens Pakistan XD, Shield Corporation and Millat Tractors Limited remained the biggest losers of the day.

As a whole 24.79 percent of companies witnessed increase in their shares while 26.12 percent lost their share value and 4.13 remained stable in KSE-100 index.

KSE-100 index gained 207.04 point to touch 29720.82 in the early trading of the first business day while in the midday trading market lost the points to reach 29567.43.

Economic analysts said that the constructive development in the dialogue between the Government and PTI and PAT gave a comfort level to the investors.

Talking to reporters following the three hour meeting- held at the residence of PTI secretary general Jehangir Tareen , PTI vice chairman Shah Mahmood Qureshi declared that “meaningful dialogue has begun’ and that both sides were making “serious efforts to rescue the nation from the prevailing impasse”. This was the first time the PTI expressed such positive sentiments about the fate of the talks.