Pakistan Stocks KSE100 index closed up 0.53%

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Pakistan Stock KSE100 index closed up 0.53%

KSE100 index closed up 0.53% (+ve 116.86 points) to 22,347.29 while the turnover was recorded at USD 61m or 121m shares (Last Trading day: USD 60m or 135m shares). All shares showed a turnover of USD 64.4m or 149m shares (Last Trading day: USD 64m or 167m shares).

Index went up by 1% in the first few hours apparently on the back of foreign buying mainly and as market waiting for outcome of PM’s visit to US. Sentiments got dampened slightly and market shed some gains as profit taking set in with talks of coal prices going up recently consequently hurting cement companies. Results of LPCL also created a bit of pessimism on cement companies as company announced very low profits apparently due to the fact that they are mainly on electric grid and not on captive plant. EFOODS was almost up 5% as stock saw correction after continuous fall in price based on lower profits in 3QCY13.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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