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Roundup: KSE stays green as post-budget rally enters 3rd day

Xinhua, June 10, 2015 Adjust font size:

Pakistan's Karachi Stock Exchange (KSE) witnessed bullish trading activities for third straight day on Wednesday as investors remained upbeat in the post- budget bullish rally which has so far contributed over 300 points into the main index.

The benchmark KSE 100-Index gained 0.16 percent or 53.56 points to 34,323.84 points on Wednesday when compared with 34,270.28 points reported on Tuesday.

During the three-day bullish run, the key index has surged by 311.35 points amid healthy average daily turnovers of 237.219 million shares. The benchmark index is currently trading 1.44 percent below the all-time high of 34,826.51 points posted on Feb. 3, 2015.

The KSE All Share Index increased by 0.35 percent or 82.90 points to 23,980.64 points, the KSE 30-Index swelled by 0.13 percent or 21,675.99 points, whereas the KMI 30-Index augmented by 0.75 percent or 431.54 points to 57,978.30 points.

During Wednesday's trading session, the key index touched an intraday high of 34,531.71 points as against an intraday low of 34, 196.24 points.

Market volumes shrank by 17.62 percent or 71.099 million shares to 332.511 million shares on Wednesday when compared with 403.610 million shares recorded on Tuesday, the capitalization improved by 0.19 percent or 13.896 billion rupees (138.967 million U.S. dollars) to 7.387 trillion rupees (73.870 billion U.S. dollars), whereas the trading value dropped 16.50 percent or 2.981 billion rupees (29.817 million U.S. dollars) to 15.085 billion rupees (150. 859 million U.S. dollars).

Among 374 active scrips on Wednesday, prices of 176 issues declined, 173 advanced, whereas values of 25 other companies stayed unchanged.

Byco Petroleum, Pakistan Telecommunication Company Limited and Karachi Electric Limited were the top traded companies with turnovers of 25.120 million shares, 21.785 million shares and 20. 827 million shares, respectively.

Nestle Pakistan was the top price gainer with increment of 180 rupees (1.8 U.S. dollars) to 10,200 rupees (102 U.S. dollars) while on the other hand Rafhan Maize led the major price shedders with decrement of 125 rupees (1.25 U.S. dollars) to 8,800 rupees ( 88 U.S. dollars). Endi