KARACHI: The Karachi Stock Exchange benchmark KSE 100-index Tuesday up 3.55 per cent, recouping the losses of previous days and added 1026.77 points to 29953.81 till midday.
The benchmark KSE 100-index witnessed highest trading of 30047.60 points and lowest trading of 28921.76 points with the total volume of 121,060,700 shares.
The three top traded companies were K-Electric Ltd with a volume of 31,358,000 and price per share of 6.90 (0.77), BO Punjab with a volume 21,098,000 of price per share of 8.05 (1.00) and Pak Elektron with a volume 17,134,000 of price per share of 43.59 (1.26).
The top three advancers were Colgate Palmolive with price per share 1735.65 (82.65), Siemens Pak. with price per share of 905.31 (42.92) and Hinopak Motorshare of 840.00 (29.78).
The top three decliners were Wyeth Pak Ltd with price per share of 2415.10 (-126.15), Murree Brewery with price per share of 988.00 (-43.28) and Service Ind.Ltd per share of 735.00 (-30.70).
Earlier, the KSE 100-index took a good start and gained 630.85 points or 2.18% to reach 29557.89 after experiencing a one of the worst days of its history on Monday.
The KSE has benefited from huge growth in recent years even though the country has been suffering from terrorism and political turmoil for the last several years. However, the market has to face outflow of foreign investment of $131 million compared with a $384 million inflow last year from the start of January to March 29.
Yesterday, among the big losers was UniLiver Pakistan, which shed 425.05 rupees or five percent to close at 8,075.95 rupees. Local investors were also worried over moves by the Securities and Exchange Commission of Pakistan to tighten regulations.
Last week Moody’s upgraded Pakistan’s dollar bond rating one notch from stable to positive on the back of improving macroeconomic indicators. The financial ratings firm said its decision came in view of strengthening foreign exchange reserves.
