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Heavyweights lead KSE higher

English.news.cn   2014-06-06 21:13:23

ISLAMABAD, June 6 (Xinhua) -- A renewed interested in the heavyweights Oil and Gas Development Company, MCB Bank and Pakistan Telecommunication Company Limited helped equities at Pakistan's Karachi Stock Exchange (KSE) to close higher in final session of the trading week Friday.

The benchmark KSE 100-Index gained 0.31 percent or 91.91 points to 29,509.11 points Friday as compared to 29,417.20 points recorded Thursday.

During the week that ended on June 6, the key index posted decline of 228.58 points with three out of five trading sessions ending in red territory.

The KSE All Share Index increased by 0.51 percent or 110.64 points to 21,825.14 points, the KSE 30-Index swelled by 0.31 percent or 62.23 points to 20,219.78 points, whereas the KMI 30- Index dipped by 0.02 percent or 7.55 points to 47,211.9 points.

During Friday's trading session, the key index touched an intraday high of 29,720.55 points as against an intraday low of 29, 417.20 points.

Weekend blues forced local investors to book profits at higher levels where United Bank Limited continued to remain under pressure ahead of government offering as concerns loomed over floor price.

Renewed interest helped Engro Corporation to close 2 percent up after falling in last few trading sessions.

Fauji Cement led the volume with 25 million shares gaining 5 percent in value.

Market volumes reduced by 40.05 million shares to 208.294 million shares, capitalization improved by 35.971 billion rupees ( 359.712 million U.S. dollars) to 6.994 trillion rupees (69.941 billion U.S. dollars), whereas trading value shrank by 2.301 billion rupees (23.011 million U.S. dollars) to 11.23 billion rupees (112.3 million U.S. dollars).

During the week under review, the Karachi bourse reported total volumes of 1.306 billion shares at average daily turnovers of 261. 378 million shares.

Among 346 active companies Friday, prices of 180 issues dropped, 140 advanced, whereas values of 26 other scrips stayed unchanged.

Fauji Cement, Pak Int Bulk(R) and Lafarge Pakistan were the top traded companies with turnovers of 25.067 million shares, 16.641 million shares and 15.584 million shares, respectively.

Wyeth Pakistan Limited was the top price gainer with increment of 200.99 rupees (2.01 U.S. dollars) to 4,225.99 rupees (42.26 U.S. dollars) whereas Bata Pakistan was the major price shedder with decrement of 77.27 rupees (77.27 U.S. cents) to 3,457.19 rupees ( 34.57 U.S. dollars).

Editor: Xiang Bo
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