KSE index surges 219.53 points
Thursday, 7 January 2010
KARACHI, Jan 6 (Business Recorder): The KSE-100 index Tuesday surged by a massive 219.53 points (2.33 per cent) to close at 9,657.38 points due to healthy buying by both local and foreign investors, mainly in heavyweight oil and gas exploration sector stocks.
"The increasing oil prices in the international market attracted healthy buying in the E&P and OMCs sector stocks", analysts said. Fresh buying was also seen in the banking sector stocks as many scrips closed with healthy gains.
The market witnessed healthy buying by foreign investors with a net inflow of $6.92 million. Trading volume improve significantly at ready counter to 193.334 million shares as compared to 94.598 million shares of Monday. Market capitalisation increased by Rs 60 billion to Rs 2.778 trillion.
Of 403 active scrips, 222 closed in positive and 159 in negative, while the value of 22 scrips remained unchanged. Ghani Gases on the first day of its formal trading was the volume leader with 21.138 million shares and surged by Rs 11.90 to close at Rs 21.90.
Healthy buying was seen in the E&P sector stocks, as the index heavyweight OGDC increased by Rs 5.52 to close at Rs 117.41 with 15.927 million shares. OGDC contributed almost 50 per cent of total gains registered by the index.
"The increasing oil prices in the international market attracted healthy buying in the E&P and OMCs sector stocks", analysts said. Fresh buying was also seen in the banking sector stocks as many scrips closed with healthy gains.
The market witnessed healthy buying by foreign investors with a net inflow of $6.92 million. Trading volume improve significantly at ready counter to 193.334 million shares as compared to 94.598 million shares of Monday. Market capitalisation increased by Rs 60 billion to Rs 2.778 trillion.
Of 403 active scrips, 222 closed in positive and 159 in negative, while the value of 22 scrips remained unchanged. Ghani Gases on the first day of its formal trading was the volume leader with 21.138 million shares and surged by Rs 11.90 to close at Rs 21.90.
Healthy buying was seen in the E&P sector stocks, as the index heavyweight OGDC increased by Rs 5.52 to close at Rs 117.41 with 15.927 million shares. OGDC contributed almost 50 per cent of total gains registered by the index.