Stocks sustain bullish trend, KSE-100 rises 151 points

KARACHI: Positive rally continued at the Karachi stock market amid witnessing of intense buying activities as result announcements of major blue chip companies remained favourable Monday.

After allowance of impairment loss adjustment to equity, investors sentiments remained positive throughout the day and NIT State Enterprise Fund and other institutional buying supported the market with fresh funds. The Karachi Stock Exchange (KSE) 100-share index gained 150.83 points or 2.68 percent as it closed at 5,776.73 compared to 5,625.90 points traded in the previous session.

The KSE-30 index also gained 212.31 points and closed at 5,894.20 points compared to 5,681.89 points of the previous session. KMI-30 index gained 226.57 points and closed at 7,738.68 points compared to 7,512.11 points of the previous session.

The market turnover went up by 11.00 percent and traded 180.31 million shares as compared to previous session’s 162.43 million shares. The overall market capitalisation went up by 2.37 percent and closed at Rs 1.808 trillion compared to Rs 1.766 trillion traded in the previous session. Out of 285 companies, 177 closed in positive zone, 93 in negative while 15 remained unchanged.

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