Karachi stocks end week with a gain of 105 points

The Karachi stock market closed higher on the last trading day of the week Friday as investors regained their lost composure on hopes of easing of tension between the government and the army.

The Karachi Stock Exchange (KSE) 100-share index gained 105.34 points or 0.97 percent to close at 11,014.46 points as compared to 10,909.12 points of the previous session. The KSE 30-share index was up by 115.59 points to close at 10,176.24 points as compared with 10,060.65 points.

Analyst said bullish activity was witnessed in scrips across-the-board led by oil and fertilizer stocks on strong valuations. Favourable statement by US secretary of state on Pakistan democratic setup and assurance for strong US support also had positive impact on market activities.

The market turnover rose 51.75 percent and traded 32.05 million shares from its opening at 21.12 million shares. The overall market capitalisation increased 0.91 percent to Rs 2.866 trillion as against Rs 2.840 trillion. Gainers outnumbered losers 147 to 47, while 126 stocks were unchanged.

From: Daily Times