KSE Index rises 102 points, closing at 8623 in Pakistan
Pakistan Times Business & Commerce Desk

KARACHI: The buying binge in oil and gas sector in the Karachi Stock Exchange (KSE) today not only pulled out the market from yesterday’s depressive mood of mourning national tragedy, but it also robustly pushed it up to a handsome gain of 102 points closing business at 8623.

The market opened up with 30 plus showing the positive way to the investors to stand by the nation and fight back the befallen calamity with all its inherent resilience that spurred a buying spree in oil and gas sector initially and, later on, an unusual rush for National Bank and Muslim Commercial Bank was witnessed in the backdrop of high expectations from its third quarterly financial results, while the market kept buzzing with rumours of flowing in of foreign investments.

Some analysts were of the view that the prices of most of those shares presently at the peak of speculative trading have surpassed their fair values.

Volume leader today National Bank with intraday highest surged by Rs7.90 to close at Rs166.65, while D. G. Khan Cement shed Rs0.45 at Rs80.10, MCB soared by Rs6.85 to close at Rs144.70.

Overall turnover today as compared to yesterday swelled up by76.6 million shares to 338.6 million shares, while in future contracts 132.5 million shares transacted.●