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Closing: KSE gains 149 points, ends above 30,000 mark

Closing: KSE gains 149 points, ends above 30,000 mark

KARACHI: Karachi Stock Exchange (KSE) 100-index gained 149.90 points to close at 30143.77 points on Tuesday, amid the confusions and concerns which have been haunting the market for past few days.

Earlier, in the morning, the investors started trading very carefully, keeping current political standoff in mind, due to which KSE 100-index shed 21 points to stand at 29972.87 points on the second day of trading.

However, the Karachi Stock Exchange (KSE) 100-index gained momentum with positive growth in midday trading which continued till the end of the final session.

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 39.11 per cent of companies witnessed increase in their shares while 21.1 per cent lost their share value and 3.47 per cent companies remained stable.

Financial experts were of the view that changes in top brass of Army and Jamaat-e-Islami Ameer Sirajul Haq’s positive statement of peaceful solution of prevailing political situation might have helped increase confidence of traders. Sirajul Haq has said that 80 per cent of demands raised by the two protesting political parties have been accepted by the government and respectful end of protests in the federal capital is soon.

Meanwhile, National Assembly Speaker Ayaz Sadiq has appealed to PTI Chairman Imran Khan to come to the National Assembly floor and take back the resignations otherwise, he warned, the process will be done according to rules from Thursday.

On the other hand, Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan announced to hold a large public gathering at Minar-e-Pakistan on September 28