Bullish sentiment prevails at Karachi share market
Tuesday, 16 March 2010
KARACHI, Mar 15 (Business Recorder): Bullish sentiments was witnessed at Karachi share market during the week ended Saturday on the back of strong interest of foreign investors, as a result of which the KSE-100 index breached 10,000 points level.
Healthy buying by offshore investors supported the index to register an increase of 399.70 points to close at 18-month high level of 10,025.99 points.
Trading also improved significantly and the average daily volume at ready counter increased by 42 per cent to 182.190 million shares as compared to previous week's 128.684 million shares.
Market capitalisation surged by Rs 115 billion to Rs 2.868 trillion. Foreign investors remained net buyers of $29 million. Since July 2009, net foreign buying stood at $380 million, which showed continuous foreign investors' interest at the equity market. On the other hand, banks and individual investors remained net sellers of $14 million and $11 million respectively.
On Monday, the market opened on a strong positive note and the index rose by 113.90 points to 9,740.19 points, with a volume of 174.310 million shares.
Healthy buying by offshore investors supported the index to register an increase of 399.70 points to close at 18-month high level of 10,025.99 points.
Trading also improved significantly and the average daily volume at ready counter increased by 42 per cent to 182.190 million shares as compared to previous week's 128.684 million shares.
Market capitalisation surged by Rs 115 billion to Rs 2.868 trillion. Foreign investors remained net buyers of $29 million. Since July 2009, net foreign buying stood at $380 million, which showed continuous foreign investors' interest at the equity market. On the other hand, banks and individual investors remained net sellers of $14 million and $11 million respectively.
On Monday, the market opened on a strong positive note and the index rose by 113.90 points to 9,740.19 points, with a volume of 174.310 million shares.