KARACHI: The Karachi Stock Exchange (KSE) 100-index gained 343.32 points in the weeklong trading, as it opened at 33649.68 points on Monday and closed at 33993points on Friday.
The Karachi Stock Exchange benchmark 100-index gained 146.76 points or 0.43 percent of the index to reach 33796.44 points with volume of 102,808,790 shares on Monday.
The KSE extended the early losses as the KSE-100 Index plummeted by 183.35 points or 0.54 percent to reach 33759.85 points till mid day trade on Monday perhaps because of foreign selling and profit-taking.
However, the KSE 100-index gained just 4.66 points or 0.01 percent to reach 33801.10 points and volume of 146,896,580shares on Tuesday.The high and low were 34036.31 and 33721.84 respectively with the total volume traded in the market of 146,896,580.
The KSE lost 82.25 points or 0.01 percent to reach 33801.10 points and volume of 114,618,940 shares on Wednesday.KSE lost early gains in mid day trading on Wednesday as the 100-Index plummeted to 33657.37 points by losing 143.74 or 0.43 percent after uncertainty prevailed in the market perhaps due to the issuance of SBP quarterly report.The report says that “overall trade deficit increased by US$1.6 billion in Q1-FY15, compared to the same period last year.” The high and Low were 33913.20 and 33645.25 respectively while the total volume traded in the market was 71,479,980. The trade deficit increase was partly compensated by US$ 765 million increase in home remittances during the quarter.
The oil sector rallied nominally as the international crude oil prices reached over $62 a barrel, with OGDC gains 0.52pc) and POL up by 0.97pc closing in the green.
The cement sector remained upbeat as the government announced that low-cost housing units will be constructed on fast track basis.This news triggered investors buying in the sector with FCCL appreciates by 0.98pc and KOHC rose by 0.93pc rallying. Star performer of the day was HUBC increased by 3.89pc as the company announced that it will setting up a new coal based power plant under a joint venture, observed analyst Arhum Ghous.
The KSE gained 223.41 points or 0.66 percent to reach 33942.27 points and volume of 137,164,510 shares on Thursday.The likely fall in power tariff, uncertainty in global commodities, rising coal prices and consolidation post earnings announcements played a catalyst role in bearish activity at KSE despite strong results in banking and cement sectors and State Bank of Pakistan revision on inflation target up to 5.5 percent likely to further ease monetary policy stance next month, they added.
The Karachi Stock Exchange gained 50.72 points or 0.15 percent to reach 33993.00 points and volume of 161,979,540 shares on Friday.
Amidst the announcement by the State Bank that Pakistan’s total liquid foreign exchange reserves are at $16,036.7 billion, the KSE remained bullish in mid day trade on Friday as KSE-100 index jumped to 34007.29 points after gaining 65.01 or 0.19pc.
Stocks showed recovery led oversold scripts across the board on strong valuations. Among major scripts cement and oil sectors were recorded recovery to lift the market towards bullish trend. Besides, the banking sector was showing good performance through annual result to attract trading in the sector.
