ROUNDUP: KSE REGAINS 29K-MARK AS INSTITUTIONS BUY

ROUNDUP: KSE REGAINS 29K-MARK AS INSTITUTIONS BUY

ISLAMABAD, Jun 26, 2014 (Xinhua via COMTEX News Network) —

Pakistan’s Karachi Stock Exchange (KSE) returned to bullish ways on Thursday as institutional investors turned to major index heavyweights but overall market participation remained on the lower side amid June- end proceedings and ahead of the holy month of Ramadan.

The benchmark KSE 100-Index gained 0.71 percent or 207.19 points to 29,188.53 points on Thursday when compared with 28,981. 34 points recorded on Wednesday.

The KSE All Share Index increased by 0.99 percent or 211.57 points to 21,601.81 points, the KSE 30-Index improved by 0.5 percent or 99.23 points to 20,062.17 points, whereas the KMI 30- Index surged by 0.73 percent or 338.49 points to 46,684.38 points.

During Thursday’s trading session, the key index touched an intraday high of 29,204.17 points as against an intraday low of 28, 981.34 points.

The key index heavyweights including Oil and Gas Development Company Limited (4.08 rupees per share), Pakistan Petroleum Limited (4.76 rupees per share), National Bank of Pakistan (2.60 rupees per share), and Pakistan Telecommunication Company Limited (0.72 rupees per share) ended in green territory.

Fauji Cement (0.36 rupees per share), Sui Southern Gas Company (1.12 rupees), Bank of Punjab (0.14 rupees), Maple Leaf Cement (0. 39 rupees), Byco Petroleum (0.23 rupees), Pakistan State Oil (2.58 rupees), and Pak Suzuki Motors (12.84 rupees) also helped the market in registering gains.

Market volumes depleted by 54.599 million shares to 149.199 million shares, capitalization swelled by 67.739 billion rupees ( 677.399 million U.S. dollars) to 6.903 trillion rupees (69.036 billion dollars), whereas trading value reduced by 834.792 million rupees (8.347 million dollars) to 8.538 billion rupees (85.386 million dollars).

Among 328 active scrips Thursday, prices of 213 issues advanced, 98 declined, whereas values of 17 other companies stayed unchanged.

Lafarge Pakistan, National Bank of Pakistan, and Pakistan Telecommunication Company Limited were the top traded companies with turnovers of 21.732 million shares, 14.338 million shares, and 10.897 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 99. 99 rupees (99.99 U.S. cents) to 7,999.99 rupees (79.99 dollars) whereas Fazal Textile led the major price shedders with decrement of 40.58 rupees (40.58 cents) to 773.15 rupees (7.73 dollars).