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Closing: KSE 100-Index extends winning streak, adds 140 points

Closing: KSE 100-Index extends winning streak, adds 140 points

 

KARACHI: The Karachi Stock Exchange (KSE) 100-index gained 140.47 points to reach 30238.96 points and volume of 90,046,030 shares on first day of trading, Monday.

Despite gloom and doom prevailed across the political spectrum, the KSE-100 index, opened at 30,098.49 and gained 27.68 points to reach 30126.17 points with total volume of 41,749,800 shares till midday.

Earlier, benchmark KSE 100-index gained 111.87 points or + 0.37 to reach 30210.36 points, with total volume of 2,775,750 shares till 9:45am.

The highest increase witnessed in price of the Pace (Pak) Limited, P.T.C.L.A, D.G.K.Cement XD and Fatima Fertilizer Company, while the Pak Services, Bata (Pak) Limited, Bhanero Tex.XD and Wyeth Pak Limited remained the biggest losers of the day.

As a whole 25.74 per cent of companies witnessed increase in their shares while 31.52 per cent lost their share value and 3.63 per cent companies remained stable.

High and Low were 30253.92 and 30098.49 respectively. Total volume traded in the market was 90,046,030 shares.

Financial experts were of the view that Memorandum of Understanding (MoU) on establishment of Asian Infrastructure Investment Bank (AIIB) in China signed by Federal Minister for Finance Ishaq Dar has further enhanced the confidence of investors to trade in market. “The market seems to have been responded to the optimism fuelled by hopes pinned on the current developments by the government to attract foreign investment into the country to enhance the chances of progress and prosperity,” they added.