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Karachi- Stocks closed all time high with investors interest in stocks across the board on strong valuations.
TheKarachistock market benchmark KSE-100 share index gained 353.86 points or 1.70 percent to end the session at 21168 points compared to 20814.14 points of the previous day.
Stock dealers said market made another new record of turnover of Rs.16.5 billion in ready market mainly led by aggressive foreign buying. Volume in rupee terms remained 43 months high. Analyst Ahsan Mehanti observed that trade remained higher amid bullish sentiments throughout the trading session on renewed foreign interest in oil and banking stocks, speculations on early resolution of circular debt issues in Pakistan energy sector.
KSE-Allshare index added 237.68 points or 1.62 percent to close the day at 14948.74 points, KSE-30 share index increased by 321 points or 1.99 percent to finish the session at 16482.63 points while KMI-30 share index enlarged by 772.81 points or 2.17 percent to stop the day at 36405.38 points. Significant developments on resolution for war-on-terror and Indo-Pak, Pak-US relations after formation of new government played a catalyst role in bullish sentiments at KSE despite concerns for fall in rupee dollar parity and foreign exchange reserves on IMF repayments due, equity expert observed.
During the session bourse traded 443.639 million shares compared to 343.599 million shares and the value of traded shares was climbed to Rs 16.522 billion from Rs 10.873 billion while the capitalisation of stock market maintained at Rs 5.153 trillion after opening at Rs 5.071 trillion.
Trading took place in 393 companies where 200 closed in positive and 163 in negative while the value of 30 stocks remained intact. Unilever Food was the biggest loser of the day decreased by Rs 250 to Rs 4900 followed by Bata (Pak) down by Rs 65 to Rs 1810. Rafhan Maize XD and Island Textile were the top gainers of the day increased by Rs 229.60 to Rs 4900 and Rs 33.21 to Rs 697.50.
Samar Iqbal at Topline Securities said foreigners have already bought shares worth $155 million on net basis in the month of May. Moreover, expectation that the arrival of Chinese prime minister will provide the much needed boost to the investment environment in Pakistan. Fauji Cement and PTC remained investors favorite as investors traded more than 100 million shares of these two stocks. Once again OGDC and PSO foreigners favorite closed at its upper limit.
KSE at all-time high
TheKarachistock market benchmark KSE-100 share index gained 353.86 points or 1.70 percent to end the session at 21168 points compared to 20814.14 points of the previous day.
Stock dealers said market made another new record of turnover of Rs.16.5 billion in ready market mainly led by aggressive foreign buying. Volume in rupee terms remained 43 months high. Analyst Ahsan Mehanti observed that trade remained higher amid bullish sentiments throughout the trading session on renewed foreign interest in oil and banking stocks, speculations on early resolution of circular debt issues in Pakistan energy sector.
KSE-Allshare index added 237.68 points or 1.62 percent to close the day at 14948.74 points, KSE-30 share index increased by 321 points or 1.99 percent to finish the session at 16482.63 points while KMI-30 share index enlarged by 772.81 points or 2.17 percent to stop the day at 36405.38 points. Significant developments on resolution for war-on-terror and Indo-Pak, Pak-US relations after formation of new government played a catalyst role in bullish sentiments at KSE despite concerns for fall in rupee dollar parity and foreign exchange reserves on IMF repayments due, equity expert observed.
During the session bourse traded 443.639 million shares compared to 343.599 million shares and the value of traded shares was climbed to Rs 16.522 billion from Rs 10.873 billion while the capitalisation of stock market maintained at Rs 5.153 trillion after opening at Rs 5.071 trillion.
Trading took place in 393 companies where 200 closed in positive and 163 in negative while the value of 30 stocks remained intact. Unilever Food was the biggest loser of the day decreased by Rs 250 to Rs 4900 followed by Bata (Pak) down by Rs 65 to Rs 1810. Rafhan Maize XD and Island Textile were the top gainers of the day increased by Rs 229.60 to Rs 4900 and Rs 33.21 to Rs 697.50.
Samar Iqbal at Topline Securities said foreigners have already bought shares worth $155 million on net basis in the month of May. Moreover, expectation that the arrival of Chinese prime minister will provide the much needed boost to the investment environment in Pakistan. Fauji Cement and PTC remained investors favorite as investors traded more than 100 million shares of these two stocks. Once again OGDC and PSO foreigners favorite closed at its upper limit.
KSE at all-time high
