Karachi Stock 100-Index up on hectic buying
Pakistan Times Business & Commerce Desk

KARACHI: Hectic buying in leading scrips pushed up prices to new level at Karachi Stock Exchange (KSE) as 100-Index crossed 10,000 level Tuesday, dealers said.

KSE 100-Index bagged 305.08 points to close at 10,303.13 on high bullish activity.

A dealer Iqbal Husain said that the market was open on a strong note and the Index gained 250 points in just half an hour trading. However, some profit taking reduced margins but the prices rebound again pushed 100-Index to 10,300 level till the close.

The turnover volume was estimated at about 632.092 million shares as prices of 179 scrips recorded gains while 197 sustained losses and 41 remained unchanged.

The market capitalization was up by Rs 77 billion to more than Rs 2.813 trillion which improved the Index by 3.05 percent.

He said that hectic buying spree in most of the scrips specially in OGDC, PTCL, Fauji Fertilizer (BQ), DG Khan Cement, NBP and Engro pushed up prices.

OGDC led the volume leaders with a record 167.773 million shares followed by Pak PTA 70.601 million shares, D G Khan Cement 57.569 million shares, Fauji Fertilizer (BQ) 42.529 million shares and NBP 34.335 million shares.

OGDC was closed at 189.75, PSO 488.90, PTCL 87.90, PPL 314.90, Fauji Fertilizer (BQ) 40.70, Engro 150, NBP 161.75, D G Khan Cement 80.60, Lucky Cement 54.10, Sui North 76.35, Hubco 31.65 and Dewan Salman 33.45.

Treet Corp recorded the highest gain of Rs 28.30 to 406.15 followed by AKD Securities up by Rs 26.65 to 382.45 while Wyeth Pak Ltd dipped by Rs 58 to 1117 and Nestle Milk down by Rs 25.95 to 499.

Boosted by 227.77 points on Tuesday Lahore Stock Market remained buoyant with LSE-25 index closing at 5700.32 improving upon Monday’s 5472.55 points as oil and gas sectors continue to play a dominant role in shares buying.

Oil and Gas Development Company’s share closed Rs.10 higher as the organisation emerged the top gainers of the day.●