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Roundup: KSE rebounds 1.11 pct amid renewed interest

Xinhua, March 20, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) returned to bullish ways on Friday as investors opted for pouncing on the buying opportunity available at dips ahead of the State Bank of Pakistan's monetary policy statement ( MPS).

The State Bank is set to announce its monetary policy for March and April on March 21 in Karachi where experts are anticipating 50 basis points cut in the key discount rate.

The benchmark KSE 100-Index surged by 1.11 percent or 348.64 points to 31,800.26 points on Friday when compared with 31,451.62 points posted on Thursday.

During the week that ended on March 20, the key index slumped by 1,128.83 points with four out of five trading sessions reporting massive bearish trends.

The KSE All Share Index increased by 0.93 percent or 208.21 points to 22,658.40 points, the KSE 30-Index jacked up by 0.92 percent or 183.69 points to 20,227.46 points, whereas the KMI 30- Index ballooned by 2.14 percent or 1,101.30 points to finish the week at 52,551.59 points.

During Friday's trading session, the key index touched an intraday high of 31,925.05 points as against an intraday low of 31, 451.62 points.

Market volumes improved 31.95 percent or 34.358 million shares to 141.897 million shares on Friday when compared with 107.539 million shares posted on Thursday, capitalization jumped 0.78 percent or 54.625 billion rupees (546.253 million U.S. dollars) to 7.056 trillion rupees (70.569 billion U.S. dollars), whereas trading value bolstered 46.35 percent or 2.866 billion rupees (28. 660 million U.S. dollars) to 9.050 billion rupees (90.500 million U.S. dollars).

During the week under review, the Pakistani stock market witnessed total volumes of 706.25 million shares at average daily turnovers of 141.25 million shares.

Among 340 active scrips on Friday, prices of 241 issues advanced, 84 closed in negative range, whereas values of 15 other companies stayed stable ahead of the weekend.

Fauji Cement XD, Pak Elektron Limited, and Bank of Punjab were the top traded companies with turnovers of 11.231 million shares, 10.961 million shares, and 9.245 million shares, respectively.

Rafhan Maize XD was the top price gainer with increment of 154. 29 rupees (1.54 U.S. dollars) to 9,919.29 rupees (99.19 U.S. dollars) while on the other hand Shezan International led major price shedders with decrement of 54.60 rupees (54.60 U.S. cents) to 1,037.40 rupees (10.37 U.S. dollars). Endi