Earning hopes drive KSE towards a positive trend

Earning hopes drive KSE towards a positive trend

Karachi: (Wednesday, April 18, 2012) After witnessing a negative trend at the shares market and KSE 100-index, the Karachi Stock Exchange finally exhibited a hope among the investors to expect strong corporate earnings in the quarter
that closed on March 30.

Recovering from yesterday’s declining trend, the KSE 100-index moved upwards and ended at 1.26 percents, or 173.73 points higher at 13,937.95.

The shares trade volume, however, could not maintain itself as it ended at 261.5 million as compared to yesterday’s 268.73 million.

Commenting on today’s business at the KSE, Ahsan Mehanti, a director at the Arif Habib Corp regarded the day as bullish. He said, “The market was bullish, with investor interest in stocks across the board on expectations of a strong
earnings outlook.”

Among the most active companies were Fauji Cement, that closed for 0.14 points lower at 7.10 rupees, Lafarge Pakistan went up by 7.24 percent to end at 5.48 rupees and D.G Khan Cement gained 4.98 percent and closed at 41.49 rupees.

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Posted by Fayyaz Yaseen on Apr 18 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