Last-day rise neutralizes KSE’s earlier losses

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KARACHI, Aug 28: Karachi Stock Exchange (KSE) recorded major bullish trade for second day on the trot on Friday as destruction of previous sessions was almost neutralized amid buying from institutional investors. The benchmark KSE 100-Index augmented by 1.43 percent or 486.18 points to 34,447.47 points on Friday when compared with 33,961.29 points posted on Thursday. During the week that ended on August 28, the main index dipped by 72.30 points with three out of five trading sessions ending in green zone. The KSE All Share Index jacked up by 1.49 percent or 353.73 points to 24,100 points, the KSE 30-Index jumped by 1.86 percent or 383.30 points to 20,975.69 points, whereas the KMI 30-Index skyrocketed by 1.58 percent or 897.68 points to 57,650.64 points. During Friday’s trading session, the key index touched an intraday high of 34,496.13 points as against an intraday low of 33, 961.29 points. Market volumes improved by 26.61 percent or 59.401 million shares to 282.651 million shares on Friday as against 223.249 million shares posted on Thursday, the capitalization swelled by 1. 48 percent or 108.516 billion rupees to 7.459 trillion rupees, whereas the trading value surged by 38.20 percent or 4.147 billion rupees to 15.006 billion rupees. During the week under review, the top Pakistani bourse witnessed total volumes of 1.502 billion shares at average daily turnovers of 300.509 million shares. Among 393 active scrips on Friday, prices of 265 issues advanced, 112 declined, whereas values of 16 other companies stayed unchanged. Dewan Cement, Pak Elektron Ltd, and Bank of Punjab were the top traded companies on Friday with turnovers of 29.801 million shares, 20.933 million shares, and 18.629 million shares, respectively. Indus Dyeing was the top price gainer with increment of 50.50 rupees to 1,200 rupees while on the flip side Rafhan Maize XD led the major price shedders with decrement of 414 rupees to 9,111 rupees.

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