Roundup: KSE maintains record-smashing rally amid rate cut hopes

Pakistan's Karachi Stock Exchange (KSE) continued the historic record-breaking spree as it gained by another 180 points to achieve yet another historic closing milestone amid upbeat investors who kept their buying euphoria alive on hopes of cut in key rates due to falling inflation.

The benchmark KSE 100-Index surged by 0.54 percent, or 179.86 points, to 33,765.61 on Thursday when compared with 33,585.75 points posted on Wednesday.

The KSE All Share Index jumped 0.57 percent, or 138.96 points, to 24,505.34 points, the KSE 30-Index gained 0.45 percent, or 96. 82 points, to 21,800, whereas the KMI 30-Index shored up by 0.1 percent, or 50.76 points, to 52,681.91.

During Thursday's trading session, the key index touched an intraday high of 33,941.51 as against an intraday low of 33,585.75.

Market volumes improved by 16.046 million shares to 399.606 million shares on Thursday as against 383.560 million shares recorded on Wednesday, the capitalization added by 43.625 billion rupees (436.250 million U.S. dollars) to 7.729 trillion rupees (77. 297 billion U.S. dollars), whereas the trading value swelled by 114.551 million rupees (1.145 million U.S. dollars) to 17.862 billion rupees (178.628 million U.S. dollars).

Among 418 active scrips on Thursday, the prices of 246 issues advanced, 158 declined, while 14 other companies stayed unchanged.

Pakistan International Airlines, Jahangir Siddiqui Company Limited and TRG Pakistan Limited were the top traded companies with a turnover of 32.304 million, 25.300 million and 22.544 million shares, respectively.

Nestle Pakistan was the top price gainer of the day with increment of 398 rupees (3.98 U.S. dollars) to 10,999 rupees (109. 99 U.S. dollars) whereas Unilever Foods led the major price shedders with decrement of 270 rupees (2.7 U.S. dollars) to 8,620 rupees (86.20 U.S. dollars). Endi