|
ISLAMABAD, Aug. 29 (Xinhua) -- The Pakistan Stock Exchange (PSX) stormed past the psychological barrier of 40,000 points for the first time since Aug. 17 as investors reacted positively to Karachi Electric Limited divestment plans by the Abraaj Capital.
The Pakistan Stock Exchanges benchmark KSE 100-Index gained 0.24 percent or 96.32 points to 40,023.02 points on Monday when compared with 39,926.70 points recorded on Friday.
The KSE All-Share Index increased by 0.24 percent or 65.30 points to 26,857.98 points, the KSE 30-Index surged by 0.22 percent or 49.38 points to 22,820.72 points, the KMI 30-Index swelled by 0.14 percent or 96.71 points to 69,744.17 points, whereas the Islamic All-Share Index ballooned by 0.24 percent or 44.39 points to 18,715.26 points.
During Mondays trading session, the main index moved in a narrow range of 176.07 points as it touched an intraday high of 40,102.16 points when compared with an intraday low of 39,926.09 points.
Karachi Electric Limited (KEL) announced on Monday that the Abraaj Capital is evaluating the possibilities of divesting its shareholding in the power utility. The announcement helped the scrip to jump by 2.5 percent besides making it the top traded company of the day.
Fauji Cement Limited (FCCL) announced that rehabilitation of line-2 is in progress while line-1 is operational since June 2016 which led it to gain by 0.7 percent.
Adamjee Insurance Company Limited (AICL) posted earnings per share of 2.20 rupees along with a cash dividend worth 1.5 rupees per share which propelled the stock to finish 1.6 percent higher.
Market volumes improved by 7.45 percent or 26.981 million shares to 389.078 million shares on Monday when compared with 362.096 million shares posted on Friday.
Market capitalization elevated by 0.24 percent or 19.549 billion rupees (191.66 million U.S. dollars) to 8.04 trillion rupees (78.828 billion dollars) whereas trade value declined by 17.19 percent or 2.58 billion rupees (25.299 million dollars) to 12.427 billion rupees (121.839 million dollars).
Among 447 active scrips on Monday, prices of 260 issues advanced, 166 depleted, whereas values of 21 other companies stayed unchanged.
Karachi Electric Limited, Byco Petroleum, and Pace Pakistan Limited were the top traded companies with turnovers of 49.732 million shares, 22.564 million shares, and 18.883 million shares, respectively.
Murree Brewery was the top price gainer with an increment of 52.41 rupees (51.38 cents) to 1,100.73 rupees (10.79 dollars) while on the other hand, Bata Pakistan led the major price shedders with a decrement of 99.99 rupees (98.03 cents) to 4,000.01 rupees (39.21 dollars).
