KSE shrugs off violence in Karachi

Positive activity was witnessed at the stock market on Monday as the PPP as well as the MQM decided for joint action against target killing in Karachi. Dealers said that investors bought shares on hopes of strong corporate results and shrugged off the factional violence in the country’s commercial capital.
The KSE 100 index continued its march, although slow, towards the desired five-figure level. It seems market participants are cautious, keeping options open for retrieval to minimize the possible losses in case of reversal at the bourses.
Stock market analysts observed that the investors discounted the political situation after couple of violent days in Karachi where the prominent coalition partner of the government threatens to leave the coalition, and political chess board may take a shift, which may affect the investment climate, they added.
The KSE 100 Index opened in green zone with a gain of 39.31 points and at the end of the day closed at 9,797 level with a gain of 20.79 points. KSE 30 index closed at 10329.24 level with a gain of 39.97 points.
All shares index closed at 6942.43 level with a gain of 11.51 points.
Trading activity was minimal as compared to the last trading session as the Ready market volume stands at 178.320mn as compared to last trading session 227.130mn. Future market volume however stands at 1.602mn shares as compared to 1.708mn shares last trading session.
Market Capitalization stands over Rs. 2.811tr, as total trades increases to 105,474 as compared to last trading session 105,315, while 171 companies advanced, 213 declined and 18 remained unchanged.

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