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Roundup: Bulls sparkle at KSE ahead of budget announcement

Xinhua, June 4, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) recorded bullish trade on Thursday as investors showed confidence over the country's economic state with the Islamabad- incumbents set to unveil the Federal Finance Bill 2015-16 on Friday.

The benchmark KSE 100-Index increased by 0.52 percent or 177.12 points to 34,085.74 points on Thursday when compared with 33,908. 62 points witnessed on Wednesday.

The KSE All Share Index surged by 0.71 percent or 167.07 points to 23,806.91 points, the KSE 30-Index gained 0.29 percent or 63.19 points to 21,637.34 points, whereas the KMI 30-Index swelled by 0. 45 percent or 249.71 points to 56,006.82 points.

During Thursday's trading session, the key index touched an intraday high of 34,156.24 points on Thursday when compared with an intraday low of 33,908.62 points.

Market volumes augmented by 19.05 percent or 57.969 million shares to 362.210 million shares on Thursday as against 304.240 million shares posted on Wednesday, the capitalization improved by 0.64 percent or 46.901 billion rupees (460.019 million U.S. dollars) to 7.344 trillion rupees (73.441 billion U.S. dollars), whereas the trading value ballooned by 31.87 percent or 3.423 billion rupees (34.239 million U.S. dollars) to 14.166 billion rupees (141.660 million U.S. dollars).

Among 377 active scrips on Thursday, prices of 220 issues advanced, 135 depleted, whereas values of 22 other companies stayed unchanged.

Southern Electric, Japan Power and Karachi Electric Limited were the top traded companies with turnovers of 38.314 million shares, 35.919 million shares, and 34.120 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 429 rupees (4.29 U.S. dollars) to 9,980 rupees (99.80 U.S. dollars) while on the flip side Shezan International led the major price decliners with decrement of 30.91 rupees (30.91 U.S. cents) to 909. 09 rupees (9.09 U.S. dollars). Endi