News Column

KSE-100 recovers more value after PM speech

August 13, 2014

Share prices at Karachi Stock Exchange (KSE) recovered more lost grounds on Wednesday as investors rediscovered some confidence from a speech by the country's Prime Minister Nawaz Sharif where he showed some flexibility on the opposition parties'demands.

The benchmark KSE 100-Index gained 0.71 percent or 201.05 points to 28,505.55 points on Wednesday when compared with Tuesday’s close of 28,304.50 points.

The KSE All Share Index increased by 0.61 percent or 127.06 points to 20,912.28 points, the KSE 30-Index surged by 0.77 percent or 151.98 points to 19,862.15 points, whereas the KMI 30- Index improved by 0.75 percent or 341.38 points to 46,115.93 points.

During Wednesday's trading session, the key index touched an intraday high of 28,637.05 points as against an intraday low of 28, 192.26 points.

Engro Fertilizer announced better than consensus earnings for June quarter which attracted fresh buying in its scrip.

The Karachi Stock Exchange authorities said in an announcement that the country's leading bourse will stay closed Thursday being a National Holiday on account of Independence Day of Islamic Republic of Pakistan.

Market volumes by 86.803 million shares to 133.583 million shares on Wednesday as against 220.657 million shares posted Tuesday, the capitalization swelled by 40.798 billion rupees to 6.696 trillion rupees, whereas trading value shrank by 3.557 billion rupees to 7.03 billion rupees.

Among 355 active scrips Wednesday, prices of 237 issues advanced, 100 depleted, whereas values of 18 other companies stayed unchanged.

Bank of Punjab, Maple Leaf Cement Ltd and Lafarge Pakistan Ltd were the top traded companies with turnovers of 12.62 million shares, 8.065 million shares and 7.944 million shares, respectively.

Nestle Pakistan was the top price gainer of the day with increment of 99.87 rupees to 7,499.87 rupees whereas Rafhan Maize led the major price shedders with decrement of 160 rupees to 10,100 rupees.

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Source: Daily Messenger (Pakistan)

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