Market watch: KSE-100 gains 598 points, powers past 44,000

KARACHI: The KSE-100 Index continued its winning run, ending positive for the fourth successive session with the benchmark settling above the 44,100-point level on the last trading day of the week.

The benchmark index maintained a steady rise throughout the day, registering an intra-day high of 622 points on the back of renewed interest in autos, oil, banking and cement stocks. Unperturbed by developments at the political front, investors continued the buying trend that started last month.

At close, the KSE-100 Index ended with an increase of 597.95 points or 1.37% to finish at 44,178.83 points.

With Hijazi’s whip gone, the bull is on the go at Pakistan’s stock market

Overall, trading volume decreased to 209 million shares, compared with Thursday’s tally of 268 million.

Shares of 378 companies were traded. At the end of the day, 271 stocks closed higher, 92 declined while 15 remained unchanged. The value of shares traded during the day was Rs10.7 billion.

WorldCall Telecom was the volume leader with 13 million shares, gaining Rs0.07 to close at Rs2.87. It was followed by Sui South Gas with 12.2 million shares, gaining Rs1.18 to close at Rs34.59 and Dewan Cement with 11.4 million shares, losing Rs1.01 to close at Rs21.80.

Benchmark index rises 0.51% to close at 43,580.88

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