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Closing: KSE takes mammoth jump of 235 points

Closing: KSE takes mammoth jump of 235 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened with positive sentiments on first day of trading, Monday, to balance the slow trading of after Eid days, gained 235.78 points to reach 30394.41 points and volume of 123,546,050 shares.

Earlier, KSE started the trading week on Monday with positive note and gained 94.50 points to stand at 30253.13 at 10:30am. In midday trading, continuing its upward motion of morning trading, KSE has gained 217, 76 points to stand at 30376.39 points and volume of 60,004,590.

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 40.03 per cent of companies witnessed increase in their shares while 22.73 per cent lost their share value and 2.97 per cent companies remained stable.

Financial experts were of the view that the positive report of World Bank, in which it acknowledged Pakistan’s economic growth in current fiscal year, has also encouraged investors to trade in markets.

“The stock markets were not only affected from mere political factors, many other issues and matters affect minds of investors when they made a move while trading at market,” they said adding that volumes of market will improve further in coming day if the situation on all fronts did not got any unexpected change.

On Political front, situation neutralizing in capital as both protesting leaders were staging rallies in different city to engage more front line public in their campaign against sitting prime minister, forcing him to resign on rigging allegations.