KSE 100 Index Closes At Record High

This News Reoprted From PAKISTAN, KARACHI: once a deep intra-day dip, the KSE-100 index emerged to shut higher by eighty nine.74 points to new incomparable  high. Evidently, the tiny investors ar getting into the market in droves, lured by the greed of 100 per cent come back within the last 2 years.

On weekday the turnover jumped to 336 million shares, nineteen per cent beyond 283m shares listed the day agone. The commerce worth additionally rose by 20pc to Rs11.8 billion, from Rs9.780bn.

Much of the quantity was seen in second and third tier-stocks, since aside from Engro Corporation, all the 9 different high volume leaders were stocks valued beneath Rs20 with KESC the very best listed refill by twenty four sub-unit to Rs6.07 on 30m shares. The figures free by the National Clearing Company of West Pakistan confirmed that whereas foreigners and establishments were sellers, people were Autobahn consumers of $5.75m price equity. a minimum of one major commerce home is suggesting caution, whereas many others and a few stock strategists believe the market to still have large top side potential.



Mujtaba Barakzai at JS international expressed that the KSE-100 index witnessed profit taking in blue chip and second tier stocks.

During the day, the index lost 119 points at just the once however recovered. Fertilizer stocks remained within the limelight. the patron sector EFoods, Nestle and National Foods additionally rallied up four.8pc, 4.1pc and 5.0pc, severally.

Analyst Ahmed Tariq at Next Capital expressed that the intraday commerce took the index as way as 118.07 into the red hinting at a robust correction however recovery before closing was hailed by investors World Health Organization were then fast to book profits.

The Board of Privatization Commission meeting on Wednesday might reduce ambiguity featured by variety of state-owned enterprises that Ar up for privatization.

Dealers at Sherman Securities detected that the market remained overstrung whole day as investors were additionally expecting technical correction higher than twenty six,000 index level. Engro, EFoods and leader performed well and closed up 4pc, 4.5pc and 0.2pc, severally.

Analyst Asad Siddiqui at Top-line Securities expressed that the market continued  its positive momentum on expectations of privatization of state-owned units, that they thought would attract additional foreign investment within the country. although some profit taking was seen, however, shopping for at dips was witnessed, analyst thoroughbred.