Aggressive buying takes Pakistan's KSE over 7,600

• Source: Xinhua
• [10:12 July 14 2009]
• Comments

Aggressive buying by local and foreign investors as well as government institutions bolstered Pakistan's Karachi Stock Exchange (KSE) as the key index marched ahead with over 180 points to close way beyond psychological levels of 7,600 here Monday.

The market has been showing positive activity for some sessions and has breached one psychological barrier after another as it ended Monday close to 7,700 levels, which is a heartening sight, market analysts told Xinhua.

Active buying witnessed right from the start where investors opted for buying stance mainly in the cement and commercial banks that helped the main index to travel deep into the green territory where at one stage it even went past psychological levels of 7,700 touching intraday highest level at 7,716.41 before closing a little lower owing to profit-booking towards the end.

The benchmark KSE 100-Index jumped by 181.99 points to start the fresh week on a high and closed at 7,684.65 levels, KSE 30- Index climbed 245.19 points to end at 8,277.25, whereas KSE All Share Index gained 121.62 points to finish at 5,471.17 levels here.

As the market attracted massive buying activity, market volumes showed far better figures as turnovers of 194,665,280 shares, which are 69,847,240 shares more as compared to Friday's volumes figures of 124,818,040 shares.

A total of 311 shares showed activity during the course of the day, out of which, prices of 200 scrips advanced, 96 declined, whereas value of 15 stocks remained unchanged.