Pak share market bullish
Tuesday, 6 April 2010
KARACHI, Apr 5 (Business Recorder): The share market witnessed bullish trend during the week ended on April 3, 2010 on the back of strong interest of foreign investors, and the KSE-100 index surged by 278.59 points to close at 10,416.52 points level.
Although the market opened on a negative note, improving situation on political front after consensus on constitutional reforms and healthy buying by offshore investors supported the index to register healthy gains.
Both local and foreign investors' interest was evident in the improving trading activity and the average daily volume at ready counter increased by 15.76 per cent to 174.191 million shares as compared to previous week's 150.474 million shares.
Market capitalisation increased by Rs 72 billion to Rs 2.951 trillion. Foreign investors registered record buying of $35.7 million during the week while individuals were net sellers of $14.1 million.
On Monday, declining trend was witnessed at the equity market due to profit taking opted by investors, and the index lost 81.47 points to close at 10,056.46 points, with a volume of 148.585 million shares.
On Tuesday, the market witnessed mixed trend. However, the index managed to close in positive at 10,073.77 points level with a gain of 17.31 points, with 147.092 million shares turnover.
On Wednesday, healthy trading activity was seen and the index surged by 104.66 points to close at 10,178.43 points level with 199.308 million shares.
On Thursday, the positive trend continued and the index gained 68.34 points to close at 10,246.77 points level with 170.343 million shares.
Although the market opened on a negative note, improving situation on political front after consensus on constitutional reforms and healthy buying by offshore investors supported the index to register healthy gains.
Both local and foreign investors' interest was evident in the improving trading activity and the average daily volume at ready counter increased by 15.76 per cent to 174.191 million shares as compared to previous week's 150.474 million shares.
Market capitalisation increased by Rs 72 billion to Rs 2.951 trillion. Foreign investors registered record buying of $35.7 million during the week while individuals were net sellers of $14.1 million.
On Monday, declining trend was witnessed at the equity market due to profit taking opted by investors, and the index lost 81.47 points to close at 10,056.46 points, with a volume of 148.585 million shares.
On Tuesday, the market witnessed mixed trend. However, the index managed to close in positive at 10,073.77 points level with a gain of 17.31 points, with 147.092 million shares turnover.
On Wednesday, healthy trading activity was seen and the index surged by 104.66 points to close at 10,178.43 points level with 199.308 million shares.
On Thursday, the positive trend continued and the index gained 68.34 points to close at 10,246.77 points level with 170.343 million shares.