On Wednesday the bulls kept dominating Karachi stocks market with the benchmark, KSE 100-share index gained 85.15 points.
The day saw the index closing up by 0.60 percent at 14,217.74 points against 14,132.59 points of second working day of the week.
”The KSE100 index managed to sustain again above the identified pivot level, which allowed it to spike yet again,” viewed Abdul Azeem of InvestCap. The analyst said the strength of the index was attracting buying interest as the market was able to hold its early morning gains. The trading volumes at the ready-counter were recorded higher at 306.800 million shares against 297.163 million shares of the previous day. The trading value increased to Rs 8.688 billion compared to Rs 8.864 billion of the previous session.
“The turnover of the market was at comfortable levels,” said Abdul Azeem.
The intraday high and low, respectively, stood at 14,310.80 and 14,132.59 points. The market capitalization goes up to Rs 3.634 trillion from Rs 3.617 trillion a day earlier. Of the total 369 traded scrips, 127 gained, 183 lost and 59 finished as unchanged.
The free-float KSE-30 index also gained 89.45 points to close at 12,472.32 points against the previous 12,382.87 points.
IGI Investment Bank was the day’s volume leader counting its traded shares at 26.964 million with the opening and closing rates standing at Rs 2.55 and Rs 3.55, followed by Lafarge Pakistan, PTCL, Lotte Pakistan PTA, National Bank XDXB and Jahangir Siddiqui Company Limited with turnover of 25.324 million, 19.084 million, 19.028 million and 17.175 million shares respectively.
On the future market, the turnover plunged by over 2 million shares to 22.367 million against 24.885 million shares of Tuesday. The UniLever Food and Bata Pakistan XD, up Rs 101.55 and Rs 20.08, led highest price gainers while, Rafhan Maize XD and UniLever Pakistan Limited, down Rs 25.47 and Rs 10.34 respectively, led the losers.
