Pakistan’s KSE surges 1.12 pct in 4th bullish session

Islamabad, Oct 10 (IANS) Pakistan’s Karachi Stock Exchange (KSE) ended the week with fourth bullish session on the trot on Friday as investors bought fresh positions amid reports positive trade in international markets.

Japan’s Nikkei surged by 1.64 percent or 297.50 points, Hong Kong’s Hang Seng Index gained 0.46 percent or 103.89 points, whereas China’s SSE Composite Index increased by 1.27 percent or 39.79 points on Friday.

Pakistan’s benchmark KSE 100-Index skyrocketed by 1.12 percent or 374.03 points to 33,843.18 points on Friday when compared with 33,469.15 reported on Thursday.

During the four-day bullish run, the key Pakistani index has accumulated 1,058.24 points. During the week that ended October 9, the main index surged by 873.45 points as four out of five trading sessions ended in green zone.

The KSE All Share Index swelled by 1.15 percent or 268.16 points to 23,673.77 points, the KSE 30-Index augmented by 1.43 percent or 288.09 points to 20,383.82 points, whereas the KMI 30- Index ballooned by 1.47 percent or 833.91 points to 57,529.52 points.

During Friday’s trading session, the key index moved in a range of 490.83 points as it hit an intraday high of 33,959.98 points as against an intraday low of 33,469.15 points.

Market volumes sized up by 38.89 percent or 69.696 million shares to 248.919 million shares on Friday when compared with trading of 179.222 million shares posted on Thursday.

During the week that ended on Friday, the top Pakistani bourse witnessed total volume of 875.514 million shares at average daily turnovers of 175.102 million shares.

Market capitalization improved by 1.14 percent or 81.422 billion rupees ($782.911 millions) to 7.233 trillion rupees ($69.555 billion) while trade value jumped by 41.19 percent or 4.050 billion rupees ($38.951 million) to 13.886 billion rupees ($133.522 million).

Among 399 active scrips on Friday, prices of 263 issues advanced, 110 declined, whereas values of 26 other companies stayed unchanged for the week.

Fauji Cement XD, Maple Leaf Cement, and TRG Pakistan Limited were the top traded companies with turnovers of 18.746 million shares, 16.895 million shares, and 15.677 million shares, respectively.

Island Textile was the top price gainer with increment of 43.60 rupees (41.92 cents) to 917.49 rupees ($8.82) while on the flip side Indus Dyeing led the major price shedders with decrement of 55.77 rupees (53.62 cents) to 1,059.73 rupees ($10.18).

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