KARACHI: Diversion of $500 million Kerry Lugar funds towards construction activity gave the beneficiary and technically floating in over sold region a technical pull back, thus KSE 100-index gained 56 points.
The KSE 100-index closed at 10,965.99 following accumulation of 56.34 points, while KSE 30-index added 65.45 points to close at 10,596.46. All shares index boosted by 38.44 points to close at 7,641.37.
Ministry of finance presented a revised target for FY11 during the concluding session of Pakistan Development Forum subject to the affect of reformed GST and flood surcharge for the residual year.
Investors’ optimism, despite problems faced by the domestic economy, helped the KSE 100-index accumulate 56 points and close at 10,966 levels. Uncertainty regarding the stance of monetary authority in policy statement due in the week following Eid holidays, has also kept the investor on the side line.
Volumes remained depressed as 74m shares traded during the day while the advance to decline ratio stayed over one. JSCL led the volume leader board followed by LOTPTA.
Foreign investors sustained interest in HUBC due to its healthy dividend yield.
