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KSE 100-index continues upward rally, adds 201 points

KSE 100-index continues upward rally, adds 201 points

KARACHI: Karachi Stock Exchange (KSE) 100-index continued its upward momentum and closed at 28505.55 points with an increase of 201.05 points or 0.71 per cent.
After the total pull back by massive 2,243 points in six earlier days because of current political disturbance the index intra-day value showed improvement after the PM’s speech. The KSE 100-index intra-day value rose by 332.55 to hit highest point of 28637.05 and decreased by 112.24 points hitting the day’s lowest level of 28192.26 points. The total trading volume of market remained 96,450,920 shares on Wednesday.
The real estate investment sector shares witnessed a turnover of 19.6 per cent, chemicals sector 15.3 per cent, commercial banks 8.1 per cent and telecommunication sector’s turnover was 9.6 per cent.
The highest increase witnessed in price of the Fauji Cement, Tele card Ltd, Jah Sidd. Co, Engro Corporation while the Unilever, Siemens Pakistan, Shield Corporation and Millat Tractors Ltd remained the biggest losers of the day.
As a whole 36.20 per cent of companies witnessed increase in their shares while 15.21 per cent lost their share value and 2.98 per cent companies remained stable.
The financial analysts termed the calls of Azadi and Inqlab marches as the major cause of volatility in the market trend, however PM’s address to the nation Tuesday night to stem the political temperature proved to be a plus point to reinstate the market stability by reinvigorating investors’ confidence.