Bulls extended their lead at Karachi Stock Exchange (KSE) Thursday which gained over 1 per cent to close near 9,000 levels with improved investor participation as Moody's maintained country's ratings as stable, while improved security situation and better economic numbers also played catalyst role.
The benchmark KSE 100-Index jumped by 1.06 per cent or 93.96 points to close at 8,999.39, KSE 30-Index climbed by 1.16 per cent or 108.95 points to end at 9467.24 levels, whereas KSE All Share Index surged by 0.99 per cent or 62.62 points to finish the day at 6394.64 levels.
Market started the session with 24 points into the green territory. Gains were then multiplied as investors went on a buying spree at attractive levels mainly on improved law and order situation while news of Moody's report also came to support the rally. Therefore index crossed the 9,000 levels and at about 1308 PST, it touched an intra-day high of 9,029 points (+ve 124 points). However some profit-taking at higher levels reduced some of the gains as the key index failed to sustain 9,000 levels at the end of the day.
Santosh Kumar, analyst at Darson Securities informed TFD that regardless of the negative news that banks face Rs8 billion Sukuk default and Qadirpur Gas Field is on the brink of collapse, market remained green throughout the session led by the usual suspects (MCB, ENGRO, PPL, POL, AICL and NML).
Volumes showed an impressive improvement as 118.9 million shares were traded which are 39.2 million shares more as compared to a turnover of 79.7 million shares a day earlier.
Out of total 391 active issues, 226 advanced and 146 declined while 19 issues remained unchanged.
Friday, December 11, 2009
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment