KARACHI: The Karachi Stock Exchange Monday witnessed variation in trading as 100-index gained 36.95 points to reach 32642.57 points level till midday.
The stock recorded highest trading level of 32873.55 points and lowest level of 32477.98 points, with the total volume of 103,037,000 shares, having Rs6,931,126,702 value.
Pak Elektron remained top trading company with a volume of 23,489,500 and price per share of 64.74 (2.70). Fauji Cement remained second with a volume of 12,783,000 and price per share of 33.25 (1.13) and MapleLeafCement with a volume 7,657,000 of price per share of 65.02 (2.59).
Despite the analysts’ prediction of lacklustre performance by the stocks due to State Bank’s new monetary policy statement, the Karachi Stock Exchange opened the last trading week of May with positive note.
The KSE-100 index added 145.65 points to take the tally to 32751.27 level, with the total volume of 18,532,350 shares in early trading.
The experts were of the view that monetary policy statement (MPS) announcement was likely to be a non-event, as the market has already priced in a 50-100bps rate cut, adding that the banks may face further negative sentiment after the announcement of the policy.
The KSE-100 shares Index closed the week ended May 22 at 32,605.62 points with a loss of 433.58 points, or 1.31 percent. The KSE-30 shares Index sheds 275.54 points, or 1.3 percent, to end the week at 21,045.79 points.