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Closing: KSE 100-index sticks to 30,000-plus level

Closing: KSE 100-index sticks to 30,000-plus level

KARACHI: The Karachi Stock Exchange (KSE) 100-index survived 30,000 psychological barrier and gained 63.76 points to reach 30088.89 points and volume of 113,364,510 shares on last day of trading, Friday.

Earlier, KSE 100-index started with bullish note and gained 90.11 points to reach 30115.24 points with a volume of 14,238,550 shares till 9:45am.

On Thursday, the benchmark KSE 100-index maintained upward rally to cross 30,000 barrier and gained 84.74 points to reach 30025.13 points with a volume of 108,461,400 shares.

The UniLever Pak, Siemens Pakistan, Shield Corporation and Millat Tractors Ltd remained the biggest losers of the day, while the highest increase witnessed in price of the Fauji Cement, Telecard Limited, Jah Sidd Co and Engro Corporation.

As a whole 28.10 per cent of companies witnessed increase in their shares while 29.09 per cent lost their share value and 2.64 per cent companies remained stable.

High and Low were 30242.17and 30025.13 respectively. Total volume traded in the market was 113,364,510 shares.

Economists were of the view that investors’ interest remained in selected stocks across the board on easing political concerns and favourable government borrowing. “Hopes for major developments in China power projects funding and privatisation plan of SOEs played a catalyst role in bullish activity at KSE,” they added.