KSE records 5th straight bullish session

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KARACHI, Aug 3: Karachi Stock Exchange (KSE) recorded fifth straight bullish session on Monday as investors welcomed the below expectation inflation figure, however overall market participation went southwards.
The benchmark KSE 100-Index gained 0.23 percent or 83.04 points to 35,824.56 points on Monday when compared with 35,741.52 points posted on Friday.
The KSE All Share Index increased by 0.26 percent or 63.85 points to 24,930.90 points, the KSE 30-Index swelled by 0.18 percent or 39.08 points to 22,277.72 points, whereas the KMI 30- Index surged by 0.44 percent or 258.45 points to 58,812.05 points.
During Monday’s trading session, the key index touched an intraday high of 35,839.97 points as against an intraday low of 35, 703.25 points.
Pre-result rally was seen in Engro Corporation (ENGRO) and Engro Fertilizer (EFERT) as investors are anticipating better June results.
Auto assemblers also rallied in expectations of improved car sales in July. Honda Atlas Car (HCAR), Pak-Suzuki Motor Company ( PSMC) and Indus Motor (INDU) rose by 5 percent, 3 percent and 0.5 percent respectively.
Market volumes declined by 33 percent or 98.791 million shares to 200.578 million shares on Monday as against 299.370 million shares witnessed on Friday, the capitalization improved by 0.26 percent or 20.017 billion rupees to 7.721 trillion rupees, whereas the trading value dipped 11 percent or 1.185 billion rupees to 9.594 billion rupees.
Among 362 active scrips on Monday, prices of 179 issues advanced, 168 depleted, whereas values of 15 other companies stayed unchanged in first trading session of August.
TRG Pakistan Ltd, Silk Bank(R), and Pace Pakistan Ltd were the top traded companies with turnovers of 14.870 million shares, 14.824 million shares, and 11.246 million shares, respectively.
Hinopak MotorXD led the top price gainer with increment of 46. 99 rupees to 986.86 rupees while on the flip side Bhanero Textile topped the major price shedders with decrement of 29.50 rupees to 560. 50 rupees.

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