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Roundup: KSE ends week, month on bullish note

Xinhua, May 29, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) returned to bullish ways as investors showed keen interest in small and mid-capped stocks thereby making good use of the buying opportunity in a relatively bearish month of May during which the main index gave away 673.17 points.

The benchmark KSE 100-Index surged by 0.9 percent or 293.31 points to regain the psychological 33,000 points-mark as it closed at 33,056.79 points on Friday when compared with 32,763.48 points. During the week that ended on Friday, the key index gained 451.17 points with three out of five trading sessions ending in green zone.

The KSE All Share Index increased by 0.79 percent or 181.74 points to 23,255.34 points, the KSE 30-Index augmented by 0.97 percent or 202.38 points to 20,978.58 points, whereas the KMI 30- Index jumped by 0.68 percent or 370.72 points to 54,667.97 points.

During Friday's trading session, the key index touched an intraday high of 33,131.79 points as against an intraday low of 32, 763.48 points.

Market volumes more than doubled as they swelled by 104.68 percent or 155.677 million shares to 304.388 million shares on Friday as against 148.710 million shares posted on Thursday, the capitalization improved by 0.78 percent or 55.827 billion rupees ( 558.279 million U.S. dollars) to 7.179 trillion rupees (71.798 billion U.S. dollars), whereas the trading value skyrocketed by 108.45 percent or 7.128 billion rupees (71.288 million U.S. dollars) to 13.702 billion rupees (137.020 million U.S. dollars).

During the week under review, the top Pakistani bourse witnessed total volumes of 930.863 million shares at average daily turnovers of 186.172 million shares.

Among 348 active scrips on Friday, prices of 192 issues advanced, 131 declined, whereas values of 25 other companies stayed unchanged.

Karachi Electric Limited, Pakistan Telecommunication Company Limited, and Fauji Cement were the top traded companies with turnovers of 27.762 million shares, 19.666 million shares, and 19. 108 million shares, respectively.

Rafhan Maize XD was the top price gainer with increment of 181 rupees (1.81 U.S. dollars) to 9,000 rupees (90 U.S. dollars) while on the flip side Siemens Pakistan led the major price shedders with decrement of 39.27 rupees (39.27 U.S. cents) to 1,106.50 rupees (11.06 U.S. dollars). Endi