Stock index gains 254 points on foreign buying
KARACHI - Karachi stock market closed bullish amid renewed
institutional and foreign interest lad by blue chip oil and banking
stocks ahead of quarter end earning announcements due next week.
At Karachi stock market benchmark KSE-100 share index posted fresh gain of 254.22 points or 1.86 percent on Wednesday to close the day’s trading at 13,945.30 points as compared to 13,691.08 points of the previous day.
Higher global commodities, rising cement prices, expectations for stronger quarter end results, improvement in Pak-US relations played a catalyst role in bullish sentiments at KSE as investor expected early announcements on implementation of revised CGT regime, said Ahsan Mehanti stock analyst in hid analysis.
KSE-Allshare index increased 176.51 points to stop the day at 9,780.09 points, KSE-30 share index added 216.53 points to finish the day at 12,272.53 points while the KMI-30 share index up 357.24 points to end the at 23,800.09 level.
Equity dealer said, in anticipation that Presidential order related to gain tax will be issued soon; investors took fresh positions at local bourses. Investor’s interest remained in the blue chip stocks as volumes climbed to Rs.9 billion. National Bank once again closed to its upper limit while HUB Power also gained 4.5pc on the rumours of resolution of their tax dispute with FBR.
Volume of business extended to 409,301 million shares up from 318,143 million shares a day earlier. In a total of 369 issues gainers held a strong lead over the loser 228 to 85 and 56 shares remain unchanged.
Lafarge Pakistan was the top traded company of the day with 30,369 million shares gained Re 0.29 to finish at Rs 5.11. it was followed by Azgard Nine added Re 0.74 to end at Rs 10.02 with 26,210 million shares, JS&Co with 25,243 million shares up by Rs 1.06 to close at Rs 22.77, Hub Power Co.XD traded 23,349 million shares achieved Rs 1.56 to finish at Rs 38.00 and DGK Cement with 18,587 million shares gaining Re0.86 to close at Rs 38.62.
Rafhan MaizeXD and Bata (Pak) Ltd were the heaviest price gainer of the day increased by Rs 127 and Rs 28.68 while the top loser were led by Wyeth Pak Ltd.XD and Ismail Industries decreased by Rs 32.71 and Rs 3.86 respectively.
At Karachi stock market benchmark KSE-100 share index posted fresh gain of 254.22 points or 1.86 percent on Wednesday to close the day’s trading at 13,945.30 points as compared to 13,691.08 points of the previous day.
Higher global commodities, rising cement prices, expectations for stronger quarter end results, improvement in Pak-US relations played a catalyst role in bullish sentiments at KSE as investor expected early announcements on implementation of revised CGT regime, said Ahsan Mehanti stock analyst in hid analysis.
KSE-Allshare index increased 176.51 points to stop the day at 9,780.09 points, KSE-30 share index added 216.53 points to finish the day at 12,272.53 points while the KMI-30 share index up 357.24 points to end the at 23,800.09 level.
Equity dealer said, in anticipation that Presidential order related to gain tax will be issued soon; investors took fresh positions at local bourses. Investor’s interest remained in the blue chip stocks as volumes climbed to Rs.9 billion. National Bank once again closed to its upper limit while HUB Power also gained 4.5pc on the rumours of resolution of their tax dispute with FBR.
Volume of business extended to 409,301 million shares up from 318,143 million shares a day earlier. In a total of 369 issues gainers held a strong lead over the loser 228 to 85 and 56 shares remain unchanged.
Lafarge Pakistan was the top traded company of the day with 30,369 million shares gained Re 0.29 to finish at Rs 5.11. it was followed by Azgard Nine added Re 0.74 to end at Rs 10.02 with 26,210 million shares, JS&Co with 25,243 million shares up by Rs 1.06 to close at Rs 22.77, Hub Power Co.XD traded 23,349 million shares achieved Rs 1.56 to finish at Rs 38.00 and DGK Cement with 18,587 million shares gaining Re0.86 to close at Rs 38.62.
Rafhan MaizeXD and Bata (Pak) Ltd were the heaviest price gainer of the day increased by Rs 127 and Rs 28.68 while the top loser were led by Wyeth Pak Ltd.XD and Ismail Industries decreased by Rs 32.71 and Rs 3.86 respectively.
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