Karachi Stock Exchange up by 163 points

Karachi Stock Exchange up by 163 points

Karachi: (Tuesday, March 27, 2012) The Karachi Stock Exchange (KSE) benchmark 100 index ended up 1.23 percent higher today with recording an improvement of 163 points and closing at 13,449.73 points. However, the total volume of
shares, in comparison to yesterday’s trading of 278 million shares, drastically fell today and ended up at 166 million only.

The overall stocks closed at 1.2 per cent higher today mainly led by the investment in cement sector, however, despite the bullish trend, the volume remained dull since the investors decided to remain on the sidelines amid the
new wave of chaos and unrest in Karachi which has claimed seven lives so far.

Expressing this concern clearly while talking to the reporters, the director Arif Habib Corp said, “Concerns about law and order in the city affectd the sentiment at the market today.”

Sharing the reasons behind greater volume of investment in the cement sector, a dealer at the Topline securities said, “Investors looked keen to invest in the cement sector due to expectations of good earnings this year.”

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Posted by Fayyaz Yaseen on Mar 27 2012. Filed under Business, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry