Monday, Mar 27, 2017

KSE-100 builds on gains with 288-point rise

KARACHI (Monitoring Desk): The KSE 100-share Index built on its gains on Monday after four-day losing streak ended on Friday last week.

Previously, the interest in index-heavy stocks deepened as investors cheered World Bank’s loan of $450 million for Pakistan. At close on Monday, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index recorded a rise of 288.30 points or 0.60% to finish at 48,697.65.

According to Topline Securities’ analyst Hammad Aman, lack of triggers kept volumes on the lower side in first trading session of the week. “Lalpir Power announced EPS of Rs2.62 along with a cash dividend of Rs1 per share. Its stock gained 1.7%,” he said. “K-Electric and Aisha Steel Mills led the volumes with 22 million shares traded combined.”

Overall, trading volumes fell to 134.7 million shares compared with Friday’s tally of 212 million. Shares of 391 companies were traded. At the end of the day, 233 stocks closed higher, 146 declined while 12 remained unchanged. The value of shares traded during the day was Rs6.1 billion.

K-Electric was the volume leader with 12.3 million shares, losing Rs0.13 to close at Rs9.03. It was followed by Aisha Steel Mills with 10.3 million shares, gaining Rs1.05 to close at Rs23.36 and The Bank of Punjab with 9.3 million shares, gaining Rs0.16 to close at Rs16.27.

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