KSE crosses psychological mark of 17,500 points

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KSE crosses psychological mark of 17,500 points

KARACHI - Rally in local stock market continued with key benchmark index crossing yet another psychological mark of 17,500. Index gained mainly led by heavy weight OGDC that mustered Rs 4. JSCL witnessed renewed interest in anticipation of better earnings. Lower than expected result of DGKC caused its share price to decline marginally, dealers observed here on Monday.

The Karachi stock market bench mark KSE-100 share index gained 70.60 points or 0.40 percent to close the day at 17,548.54 points as compared to 17,477.94 points of the last working day on Friday.

KSE-Allshare index grew by 50.48 points or 0.41 percent to stop the day at 12,407.73 points, KSE-30 share index up by 74.29 points or 0.52 percent to end the day at 14,325.44 points while KMI-30 share index increased by 152.22 points or 0.50 percent to finish the day at 30,442.89 points. Stock traded 278.248 million shares on Monday after opening at 269.366 million shares and the value of traded shares was climbed to Rs 6.544 billion from Rs 5.417 billion. Capitalisation of stock market settled at Rs 4.396 trillion compared to Rs 4.378 trillion of a day earlier.

Trading took place in 263 companies where gainers beat the losers 178 to 157 while the value of 28 stocks remained intact. Unilever Pak was the top loser of the day down by Rs 105 to Rs 1040 followed by Colgate Palmolive decreased by Rs 25 to Rs 1500. Rafhan Maize Prod and Bhanero Tex were the biggest gainers of the day up by Rs 50 to Rs 3,650 and Rs 12.85 to Rs 269.85.

JS Company was the volume leader of the day with 25.497 million shares as it closed at Rs 17.78 after opening at Rs 18.04. It was followed by Maple Leaf Cement with 24.493 million shares up by Re 0.75 to Rs 18.05, PTCLA with 17.275 million shares shed by Re 0.13 to Rs 19.87, PIAC(A) with 16.991 million shares added Re 0.07 to Rs 4.50 and WorldCall Telecom with 16.101 million shares shed by Re 0.20 to Rs 3.38.

Courtesy: The Nation

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