KSE stays bullish to hit fresh all-time high

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Equities at Karachi Stock Exchange (KSE) recorded the fifth straight bullish session on Monday as investors stayed upbeat in the mid-cap stocks anticipating another cut in key interest rate after decline in the latest inflation data released last week.

The benchmark KSE 100-Index gained 0.08 per cent or 26.18 points to 32,757.79 points on Monday when compared with 32,731.61 points recorded on Friday.

The KSE All Share Index increased by 0.24 per cent or 56.93 points to 23,810.67 points, the KSE 30-Index inched up by 0.04 per cent or 7.64 points to 21,241.21 points, while on the contrary the KMI 30-Index bucked the bullish trend with decline of 0.34 per cent or 174.92 points to 51,945.46 points.

During Monday’s trading session, the key index touched an intraday high of 32,866.42 points as against an intraday low of 32, 664.15 points.

Market volumes swelled by 6.6002 million shares to 329.578 million shares on Monday as against 322.978 million shares recorded on Friday, the capitalization augmented by Rs 18.221 billion to Rs 7.510 trillion, whereas the trading value dipped by Rs 941.647 million to Rs 16.822 billion.

Among 380 active scrips on Monday, prices of 186 stocks closed in green zone, 178 culminated the day in red territory, whereas values of 16 other companies stayed unchanged at previous week’s levels.

Karachi Electric Limited, Pak Elektron Limited, and Jahangir Siddiqui Company Limited were the top traded companies of the day with turnovers of 47.882 million shares, 22.952 million shares, and 18.023 million shares, respectively.

Unilever Foods was the top price gainer with increment of Rs 122. 23 to Rs 8,900 whereas Exide Pakistan led the major price shedders with decrement of Rs 89.90 to Rs 2,140.10.