Stocks Observer. com

KARACHI: Bull reigned the Karachi stock market during the week on support from buying activities as Securities and Exchange Commission of Pakistan (SECP) approved the re-launching of deliverable futures contract in 18 scrips. The Karachi Stock Exchange (KSE) 100-share index gained 19.39 points or 0.2 percent to close at 7,783.40 points as compared to 7,764.01 points of the previous week. Other major factors that supported the market included approval of dividends for Letter of Comfort (LoC) unit holders of National Investment Trust (NIT), rise in international oil prices and renewed interest of foreign investors. The turnover was recorded at 193.04 million shares as compared with 183.81 million shares of the previous week, reflecting an increase of 5.02 percent. “The SECP’s approval of 18 future securities and monetary policy statement prospects elated investors’ mood at the start of the week,” said analyst at JS Research Mustafa Bilwani. “SBP’s announcement of a delay in the monetary...