Market watch: KSE-100 gains 615.28 points to power past 42,500
KARACHI: Investors continued to buy stocks in droves as the KSE-100 Index registered a gain of 615.28 points or 1.47% to power past the 42,500 level.
The gain meant the index ended positive for the 12th successive session, cumulatively adding 12.1% during the bullish run that started at the end of December.
On Friday, trading began on a positive note with the KSE-100 Index witnessing a surge of 300 points in the first half. The buying spree continued when trading resumed after the mid-day break leading the index to hit an intra-day high of 42,584.96 points.
Market watch: KSE-100 ends positive for 11th successive session
At close, the KSE-100 Index ended with a gain of 615.28 points or 1.47% to finish at 42,523.99.
Buying was witnessed across the board with auto assemblers, cement and banking stocks attracting attention.
Overall, trading volume increased to 260.9 million shares, compared with Thursday’s tally of 222.4 million.
Market watch: KSE-100 closes positive for 10th successive session
Shares of 388 companies were traded. At the end of the day, 282 stocks closed higher, 86 declined while 20 remained unchanged. The value of shares traded during the day was Rs9.5 billion.
Bank of Punjab was the volume leader with 18 million shares, gaining Rs0.75 to close at Rs9.51. It was followed by WorldCall Telecom with 11.9 million shares, gaining Rs0.05 to close at Rs2.96 and K-Electric with 11.4 million shares, losing Rs0.09 to close at Rs6.86.
Foreign institutional investors were net buyers of Rs504.9 million during the trading session, according to data compiled by the National Clearing Company of Pakistan.
Benchmark index gains 100.17 points to settle at 40,471.48
Market watch: With 755-point surge, KSE-100 powers past 39,000 barrierBenchmark index gains 1.95% to end at 39,470.89
Original news : https://tribune.com.pk/story/1601598/2-market-watch-kse-100-gains-615-28-points-power-past-42500/