KARACHI: The buying activities during the fourth trading session of the week Thursday kept Karachi stock market in the buoyant mood, traders said.
The bullish sentiments dominated the session spurred by expectation of record payouts by oil and fertiliser scrips on year-end result announcements. Analysts said investors celebrated reduction in NSS rates ahead of result announcement session as which is evident from witnessing healthy turnover of 195 million shares.
The Karachi Stock Exchange (KSE) 100-share index gained 227.62 points or 3.13 percent to close at 7,498.34 points as compared to 7,270.72 points of the previous trading session. The KSE 30-share index also gained 288.62 points and closed at 8,000.53 points as compared to 7,711.91 points. The KMI 30 index also gained 339.57 points to close at 11,211.16 points as against 10,871.59 points.
The market turnover went up by 87.30 percent and traded 195.94 million shares as compared to previous session’s 104.61 million shares. The overall market capitalisation was up by 2.93 percent to close at Rs 2.213 trillion as compared with Rs 2.150 trillion. Out of total 296 companies, 196 closed in the positive zone, 84 in negative while 16 remained unchanged.
Husnein Asghar Ali, analyst at Aziz Fida Husein and Co said it was the roar of the new leverage products, (with details known to privileged) selective counters have arranged bridge financing until the launch as reflected by the substantial rise in turnover which would continue to rise when the products were launched as the potential was much higher.
Senior analyst at Shahzad Chamdia Sec, Ahsan Mehanti said rise in furnace oil prices was taken positive for oil marketing companies, record cement exports and expectation of reduction in discount rates in next week monetary policy announcement played a catalyst role for positive activity.
The KSE 100 index opened in green zone with a gain of 25.78 points and at the end of the day closed at 7270.72 with a gain of 108.54 points. KSE 30 index closed at 7711.91 with a gain of 140.83 points. KMI-30 index closed at 10871.59 with a gain of 223.90 points. All shares index closed at 5194.43 with a gain of 72.70 points.
Trading activity was better as compared to the last trading session as the ready market volume stood at 195.946 million as compared to last trading session 104.614 million.
DGK Cement traded 23.89 million shares as it closed at Rs 30.55 from its opening at Rs 30.50 gaining five paisas.
The bullish sentiments dominated the session spurred by expectation of record payouts by oil and fertiliser scrips on year-end result announcements. Analysts said investors celebrated reduction in NSS rates ahead of result announcement session as which is evident from witnessing healthy turnover of 195 million shares.
The Karachi Stock Exchange (KSE) 100-share index gained 227.62 points or 3.13 percent to close at 7,498.34 points as compared to 7,270.72 points of the previous trading session. The KSE 30-share index also gained 288.62 points and closed at 8,000.53 points as compared to 7,711.91 points. The KMI 30 index also gained 339.57 points to close at 11,211.16 points as against 10,871.59 points.
The market turnover went up by 87.30 percent and traded 195.94 million shares as compared to previous session’s 104.61 million shares. The overall market capitalisation was up by 2.93 percent to close at Rs 2.213 trillion as compared with Rs 2.150 trillion. Out of total 296 companies, 196 closed in the positive zone, 84 in negative while 16 remained unchanged.
Husnein Asghar Ali, analyst at Aziz Fida Husein and Co said it was the roar of the new leverage products, (with details known to privileged) selective counters have arranged bridge financing until the launch as reflected by the substantial rise in turnover which would continue to rise when the products were launched as the potential was much higher.
Senior analyst at Shahzad Chamdia Sec, Ahsan Mehanti said rise in furnace oil prices was taken positive for oil marketing companies, record cement exports and expectation of reduction in discount rates in next week monetary policy announcement played a catalyst role for positive activity.
The KSE 100 index opened in green zone with a gain of 25.78 points and at the end of the day closed at 7270.72 with a gain of 108.54 points. KSE 30 index closed at 7711.91 with a gain of 140.83 points. KMI-30 index closed at 10871.59 with a gain of 223.90 points. All shares index closed at 5194.43 with a gain of 72.70 points.
Trading activity was better as compared to the last trading session as the ready market volume stood at 195.946 million as compared to last trading session 104.614 million.
DGK Cement traded 23.89 million shares as it closed at Rs 30.55 from its opening at Rs 30.50 gaining five paisas.
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