State-run funds support keeps KSE in green zone

KARACHI - The Karachi Stock Exchange continued the upward movement on Friday and the KSE-100 index
gained another 34 points to close the week at 7,163 points.
The market performance was quite steady with healthy volumes of over 150m share as index gained few more
points. Meeting of stock members at KSE can be termed as a positive for the market as members are using
their brains to form a mechanism how FED will be calculated and paid in a hassle free manner. The clarity
regarding FED provided some comfort level to the investor community to reenter the market.
“Good volumes can be termed as positive, but the question arises whether the volumes can be sustained at
current level or not. So we need to be cautious while making any investment decision”, said market expert Bilal
Asif.
The Bourse was positive in the opening, up by 24.12 points and remained in the green zone throughout the
trading sessions. Index closed the day at 7,163.04 points, gaining 34.21 points on Friday.
Trading activity was much healthier as compared to the last trading session as the ready market turnover stood
at 152.664m shares against last trading session’s 104.371m shares. Total trading value of the market inched up
to Rs5.855b from last session’s Rs5.417b. Market capitalisation also increased to Rs 2.120tr as compared to
last trading session’s Rs 2.111tr. Out of 312 active scrips at the stock market, as many as 160 gained value,
129 lost and the work of 23 symbols remained unchanged.
Cement stocks were on a role as cement twins kept on wearing green colour, while at the same time banks
were back in action. E&P sector more or less remained muted but OGDC became a part of top volume leaders