Karachi bourse achieves fresh all-time peak

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KARACHI, Jul 22: Karachi Stock Exchange (KSE) skyrocketed to a fresh all-time high above historic levels of 36,000 points on Wednesday as investors participated actively after the market resumed trading following a five-day break.
The benchmark KSE 100-Index surged by 0.47 percent or 169.02 points to 36,056.68 points on Wednesday when compared against the previous all-time high of 35,887.66 points clocked on Thursday.
The KSE All Share Index elevated by 0.58 percent or 143.94 points to 25,033.57 points, the KSE 30-Index swelled by 0.23 percent or 52.38 points to 22,402.41 points, whereas the KMI 30- Index dipped by 0.02 percent or 11.85 points to 59,410.81 points.
During Wednesday’s trading session, the key index touched an intraday high of 36,110.76 points as against an intraday low of 35, 887.66 points.
After the Muslim Eid-ul-Fitr holidays, the top Pakistan bourse witnessed renewed interest in banking stocks like Allied Bank Ltd (ABL), Bank Al-Falah Ltd (BAFL) and National Bank of Pakistan (NBP) which closed at their upper limits.
In anticipation of better June 2015 results, investors took fresh positions in chemical stocks. As a result, Arif Habib Corporation Ltd (AHCL) closed at upper cap while Engro Corporation (ENGRO), Engro Fertilizer (EFERT) and Fatima Fertilizer (FATIMA) increased by 1.16 percent to 4.35 percent.
Market volumes bolstered by 3.17 percent or 19.090 million shares to 621.473 million shares on Wednesday as against 602.382 million shares posted on Thursday, the capitalization gained by 0. 58 percent or 44.450 billion rupees to 7.732 trillion rupees, whereas the trading value jacked up by 16.96 percent or 2.397 billion rupees to 16.537 billion rupees.
Among 398 active scrips on Wednesday, the prices of 241 issues advanced, 140 declined, whereas values of 17 other companies stayed unchanged.
Lotte Chemical, Karachi Electric, and Bank of Punjab were the top traded companies with turnovers of 44.783 million shares, 38. 235 million shares, and 28.222 million shares, respectively.
Sapphire Textiles was the top price gainer with increment of 30. 22 rupees to 670.22 rupees while on the flip side Shezan International led the major price shedders with decrement of 45 rupees to 905 rupees.

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