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Roundup: KSE surpasses 33k-level after global oil prices recover

Xinhua, January 8, 2015 Adjust font size:

Equities at Pakistan's Karachi Stock Exchange (KSE) achieved the unprecedented 33,000 points on Thursday as investors poured in big money following recovery in the global oil markets.

The benchmark KSE 100-Index jumped by 0.86 percent or 281.52 points to 33,117.47 points on Thursday when compared with 32,835. 95 points recorded on Wednesday.

The KSE All Share Index surged by 0.86 percent or 204.65 points to 24,079.28 points, the KSE 30-Index augmented by 0.88 percent or 187.47 points to 21,478.93 points, whereas the KMI 30-Index gained 0.76 percent or 393.47 points to 52,104.89 points.

During Thursday's trading session, the key index touched an intraday high of 33,142.93 points as against an intraday low of 32, 835.94 points reported on Wednesday.

A recovery in global oil prices propelled the local bourse to beyond 33,000 points level for the first time in its history.

After a gap of many days, oil stocks rallied with Pakistan Oilfields Limited (POL) gaining 3.27 percent, Pakistan Petroleum Limited (PPL) rising by 2 percent, whereas the oil giant Oil and Gas Development Company (OGDC) ballooned by 1 percent.

Market volumes improved by 8.677 million shares to 273.098 million shares on Thursday as against 264.420 million shares posted on Wednesday, the capitalization advanced by 64.707 billion rupees (647.074 million U.S. dollars) to 7.595 trillion rupees (75. 955 billion dollars), whereas the trading value swelled by 972.783 million rupees (9.727 million dollars) to 15.073 billion rupees ( 150.731 million dollars).

Among 377 active scrips on Thursday, prices of 200 issues skyrocketed, 154 declined, whereas values of 23 other companies stayed unchanged.

NIB Bank Limited, Karachi Electric Limited, and Pakistan Telecommunication Company Limited were the top traded companies with turnovers of 17.317 million shares, 15.867 million shares, and 14.253 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 497. 74 rupees (4.97 dollars) to 10,452.55 points (104.52 dollars) whereas Rafhan Maize led the major price shedders with decrement of 45 rupees (45 U.S.cents) to 10,500 rupees (105 dollars). Endi