Buying spree continues at Karachi Stock Exchange

KARACHI:  Buying spree further strengthened market at Karachi Stock Exchange (KSE) as 100‑Index surged by 156.97 points to close at 6074.87 on Tuesday, dealers said.

The turnover volume dropped to 165.193 million shares as 147 scrips recorded gains while 133 sustained losses and 5 remained unchanged.

A dealer at a leading brokerage house said that the market was bullish since morning and remained till the close.

He said that major scrips are being traded in the market at a lucrative prices which is an encouraging development.

The market capitalization was improved by Rs 42.623 billion to Rs 1.921 trillion.

OGDC was the volume leader with a turnover of 13.525 million shares followed by TRG Pakistan 10.511 million shares, NIB Bank 7.990 million shares, WorldCall Telecom 7.163 million shares and PTCL 6.864 million shares.

PSO closed at 128.12, NIB Bank 6.35, OGDC 51.73, PTCL 16.61, MCB 113.92, TRG Pakistan 2.99 and WorldCall Telecom 5.11.

Unilever Pak recorded the highest gain of Rs 10 to close at 1975 followed by Millat Tractors which went up by Rs 7.55 to 158.59 while Nestle Pak dipped by Rs 66.67 to 1266.83 and Siemens Pak went down by Rs 51 to 970.