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Roundup:Karachi bourse rebounds 0.95 pct to end week

Xinhua, April 24, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) returned to bullish ways on final day of the week on Friday as investors pounced on the buying opportunity which emerged amid better-than-expectations March quarter results by the listed companies.

The benchmark KSE 100-Index surged by 0.95 percent or 318.38 points to 33,775.12 points on Friday when compared with 33,456.74 points reported on Thursday. During the week that ended on April 24, the main index jumped by 540.39 points with three out of five trading sessions ending in green zone.

The KSE All Share Index increased by 0.77 percent or 180.73 points to 23,605.57 points, the KSE 30-Index augmented by 1.35 percent or 288.83 points to 21,705.91 points, whereas the KMI 30- Index bolstered by 0.6 percent or 330.50 points to 55,086.97 points.

During Friday's trading session, the key index touched an intraday high of 33,803.88 points as against an intraday low of 33, 456.74 points.

Oil and gas exploration companies rallied after increase in international crude oil prices where Oil and Gas Development Company (OGDC) closed 2.4 percent up, Pakistan Oilfields Limited ( POL) gained 1.2 percent and Pakistan Petroleum Limited (PPL) increased 1.3 percent.

Market volumes shrank by 11.66 percent or 40.567 million shares to 307.449 million shares, the capitalization swelled by 0.78 percent or 56.369 billion rupees (563.697 million U.S. dollars) to 7.310 trillion rupees (73.100 billion U.S. dollars), whereas trading value depleted by 9.46 percent or 1.606 billion rupees (16. 061 million U.S. dollars) to 15.365 billion rupees (153.651 million U.S. dollars).

During the week under review, the top Pakistani bourse witnessed total volumes of 1.643 billion shares at average daily turnovers of 328.655 million shares.

Among 354 active scrips Friday, prices of 192 issues advanced, 141 skidded lower, whereas values of 21 other companies stayed unchanged.

KASB Bank Limited, Pak Elektron Limited, and Byco Petroleum were the top traded companies with turnovers of 45.108 million shares, 26.582 million shares, and 18.613 million shares, respectively.

Indus Motor Company was the top price gainer with increment of 47.76 rupees (47.76 U.S. cents) to 1,099.27 rupees (10.99 U.S. dollars) while on the other hand Pak Tobacco XD led the major price shedders with decrement of 26.86 rupees (26.86 U.S. cents) to 782 rupees (7.82 U.S. dollars). Endi