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Closing: KSE on upward drive, adds 110 points

Closing: KSE on upward drive, adds 110 points

Closing: KSE shows buoyant mood, adds 110 points

KARACHI: The Karachi Stock Exchange KSE-100 index on Tuesday in its buoyant mood added to its yesterday gains, taking the points tally to 110.17 to reach 30180.30 points.

The KSE-100 index, opened at 30070.12 points with a buoyant mood and kept upward march, gaining 203 points to reach the level of 30273 points, however, during midday KSE failed to consolidate early rally and plummet to 30076.28 points on a lethargic note as limited interest was shown by investors amid standstill on political front.

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

As a whole 27.44 per cent of companies witnessed increase in their shares while 30.41 per cent lost their share value and 3.47 per cent companies remained stable

The market opened with positive sentiments and kept on marching upward amid flurry of hectic politicking in the federal capital as Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan said that police were arresting his supporters on the grounds of attending the sit-ins and made the police release his arrested workers who he claimed were unlawfully held.

Though the political scenario remains hazy, stocks continue to capitalize on the developments taking place across the political spectrum.

Experts are of the view that banks were expected to post higher earnings in the quarter ended September 30, as they had made huge investment in highly profitable Pakistan Investment Bonds during the last two quarters