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Closing: KSE ends in green before 5 days closure

Closing: KSE ends in green before 5 days closure

KSE is going to close for 5 days due to weekend and Eid holidays

KARACHI: As the stocks markets across the country were going to close for five days, the Karachi Stock Exchange tried hard to end trading in green zone on last day of trading, Friday. The KSE slightly gained 31.65 for today to reach 30103.23points and volume of 56,756,210 shares.

Earlier, KSE started trading with bullish trend and reached 30152.45 stage by gaining 80.87 points, with positive change of 0.27 per cent. The market tried three times to get above 100 point gains, however, fluctuating downward, ended in positive.

On Thursday, the major stock exchange of the country, the KSE 100-index, crossed the psychological barrier of 30,000, gaining just 74.97 to reach 30071.58 points and volume of 107,311,490 shares.

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

As a whole 30.08 per cent of companies witnessed increase in their shares while 27.27 per cent lost their share value and 2.15 per cent companies remained stable.

Yesterday, the US Consul General Brian Heath visited Karachi Stock Exchange (KSE) and termed it as “an important symbol of the city’s role as Pakistan’s financial and commercial market,” a KSE press release stated.

Financial experts were of the view that even foreign buying could not yielded what was expected on last day of trading before prolonged closure of KSE due to weekend and Eid holidays. “Investors, however, hoping the better settlement of the political disorder after Eid holidays, which will bring positive trend in trading of stocks,” they added.

On the political front, as the controversial slogan of ‘Go Nawaz Go’ has created more heat in simmering political pot, the Pakistan Tehreek-e-Insaf Chairman Imran Khan warned that anyone who used violence on protesters, chanting the ‘Go Nawaz Go’ slogan, would not be spared. .

Also after rally at Mianwali, next stop of PTI is going to be Multan where by-elections are being held in NA-149 constituency which became vacant after Javed Hashmi’s resignation. Javed Hashmi also resigned as president of Tehreek-e-Insaf few days ago.

Moreover, the participants of the protest in front of the Parliament House by Pakistan Tehreek-e-Insaaf (PTI) and Pakistan Awami Tehreek (PAT) were going to their hometowns to spend Eidul Adha with their family members.