Karachi Stock Exchange( KSE) achieved hat-trick of hitting fresh historic all-time highs on Thursday as the main index ended above the never-seen 16,900 levels with market participation improving considerably after investors took keen interest in the TRG Pakistan and Byco Petroleum.
The benchmark KSE 100-Index gained 0.23 percent or 38.19 points to close at 16,908.02 levels on Thursday as against close of 16, 869.83 levels reported on Wednesday as both the TRG Pakistan and Byco Petroleum finished the day at their upper circuit-breakers.
The KSE 100-Index completed the hat-trick of striking an all- time high, a feat very rare in the global stock markets, as it hit 16,858.68 levels on Monday, 16,869.83 levels on Wednesday, and 16, 908.02 levels on Thursday.
The KSE All Share Index moved up by 0.24 percent or 28.38 points to end at 11,954.27 levels on Thursday as against Wednesday ‘ s 11,925.89 levels, the KSE 30-Index swelled by 0.2 percent or 27.76 points to conclude at 13,737.08 levels on Thursday as against Wednesday’s 13,709.32 levels, whereas the KMI 30-Index increased by 0.19 percent or 55.38 points to finish trading activities at 29,032.28 levels on Thursday when compared with Wednesday’s closing levels of 28,976.9.
The Karachi Stock Exchange began the day amid a strong bullish rally which helped it go past the psychological levels of 16,900 level within first hour of trade and soon it hit the intraday highest level of 16,916.99.
However, just like the past few trading sessions, the main index faced stiff resistance at its intraday highest levels and plunged down before choppy trade kept it swinging both ways during which it hit the lowest levels of the day of 16,869.60.
A renewed buying interest then developed at the lowest levels which gradually propelled the main index back into the green zone and it came close to cross its intraday highest level before last- minute selling clipped some of the gains.
Market volumes bolstered by 71.474 million shares to 185.426 million shares on Thursday as against trading of 113.952 million shares recorded on Wednesday as Byco Petroleum and TRG Pakistan contributed over 46 million shares together.
Market capitalization improved by 10.498 billion rupees (110. 515 million U.S. dollars) to 4.238 trillion rupees (44.612 billion U.S. dollars) on Thursday when compared with market capitalization worth 4.227 trillion rupees (44.501 billion U.S. dollars) reported the other day.
The Karachi Stock Exchange’s trading value reduced by 528.876 million rupees (5.567 million U.S. dollars) to 3.737 billion rupees (39.345 million U.S. dollars) on Thursday as against Wednesday’s trading value of 4.266 billion rupees (44.912 million U.S. dollars).
As per the figures released by the National Clearing Company of Pakistan Limited (NCCPL), the foreign investors came up with net buying worth 43.885 million rupees (0.447 million U.S. dollars) on Wednesday.
In broader market, a total of 368 companies changed hands during the course of trading on Thursday where prices of 173 issues ended in red ink, 167 finished in green terrain, whereas values of 28 other scrips stayed unchanged at previous trading session’s levels.
TRG Pakistan Limited was the top traded company on Thursday with trading of 35.260 million shares in its scrip, followed by Byco Petroleum, Maple Leaf Cement, Lotte Pakistan PTA Limited, Fauji Cement, Descon Oxychem, NIB Bank Limited, Fauji Fertilizer XD, Nishat Chunian, and Engro Corporation with turnovers of 21.014 million shares, 14.604 million shares, 9.454 million shares, 4.377 million shares, 4.372 million shares, 4.342 million shares, 4.253 million shares, 4.194 million shares, and 4.015 million shares, respectively.
Colgate Palmolive was the top price gainer of the day with increment worth 49.98 rupees (52.61 U.S. cents) in its per share price that ended at 1,399.98 rupees (14.73 U.S. dollars) while on the other hand Siemens Pakistan led the major price shedders of Thursday with decrement of 8 rupees (8.42 U.S. cents) a share to finish the day at 764 rupees (8.04 U.S. dollars).
KSE hits 16,900 mark as TRG, Byco shine
