KSE scales new peak ahead of long weekend

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KARACHI, Jul 16: Karachi Stock Exchange (KSE) skyrocketed to fresh all-time high on Thursday as investors opted for buying new positions ahead of the long weekend owing to Eid-ul-Fitr celebrations in the Muslim country.
The benchmark KSE 100-Index increased by 0.53 percent or 187.91 points to 35,887.66 points on Thursday when compared with 35,699. 75 points reported on Wednesday.
During the week that ended on July 16, the main index collected 775.37 points with three out of four trading sessions ending in green zone.
The KSE All Share Index gained 0.52 percent or 128.06 points to 24,889.63 points, the KSE 30-Index surged by 0.47 percent or 103. 57 points to 22,350.03 points, whereas the KMI 30-Index swelled by 0.09 percent or 52.09 points to 59,422.66 points.
During Thursday’s trading session, the key index touched an all-time historic intraday high of 36,031.44 points as against an intraday low of 35,698.52 points.
Market volumes improved by 9.22 percent or 50.844 million shares to 602.382 million shares on Thursday when compared with 551.538 million shares posted on Wednesday, the capitalization jacked up by 0.52 percent or 39.900 billion rupees, whereas the trading value reduced by 12.74 percent or 2.064 billion rupees to 14.140 billion rupees.
During the four-session week under review, the top Pakistani bourse recorded total volumes 1.916 billion shares at average daily turnovers of 479.216 million shares.
Among 376 active scrips on Thursday, prices of 218 issues advanced, 134 declined, whereas values of 24 other companies stayed unchanged.
Pace Pakistan Ltd, Pervez Ahmed Securities and Lotte Chemical were the top traded companies with turnovers of 53.594 million shares, 43.381 million shares and 34.885 million shares, respectively.
Rafhan Maize was the top price gainer with increment of 500 rupees to 10,500 rupees while on the flip side Punjab Oil led major price shedders with decrement of 8.67 rupees to 250.27 rupees.

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