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Friday, April 18, 2008

KSE reaches highest-ever peak of 15,622.30pts
Zafar Ahmad
KARACHI: Karachi Share Market continued to depict bullish trend recording a further gain of 81.95 points, pushing the 100-price index to 15622.30 points.The Thursday's index was the highest-ever recorded by the Share Market as the index on Wednesday was 15540.35 points.The Share Market had been going steadily as it was daily the recording of higher points.Similarly, the free-float (30-index) reported a gain of 47.59 as the index moved from 18948.74 points to 18996.33 points, citing a percentage of 0.25.The stock analysts commended the working of the Karachi Share Market as the investors had been moving freely and investing according to their investment plans. The index today moved to 15622.30 points while it closed yesterday at 15540.35 points, depicting a net gain of 81.95 points.The market had been enjoying 'boom' and it was attracting investors in a big way, the analysts concluded.The ground realities continued unchanged. The Sindh Government has been inducted but minus MQM, which the politicians and the Karachiities felt awkward. There had been whisperings about the Sindh Governor with the reports that the governor's powers have been clipped.It was disturbing for the investors who think that the PPP must sort out a way to work with the MQM as it was in the larger interest of the people. Similarly, investors feel that the increase in the petrol prices during the recent weeks was 'third' in a row which was definitely not in their interest and was bitterly criticised by the investors. Analysts opine that tomorrow will be the weekend sessions and hopefully there would be some new records, including the highest-ever records as the Share Market has been going strong, providing all the confidence to investors. On Friday trading period, Pak ReInsur topped the list of the companies depicting highest increase in their rates, as it recorded an increase of Rs33.55, with the closing rates 705.10, followed by AKD Capital Ltd which reported a gain of Rs 29.95 with the closing rate 729.95. The loosers were led by Siemens Pakistan which sustained a loss of Rs 69, with the closing rate 1600.00, followed by Pak Engineering which suffered a loss of Rs 17.00 with the closing rate 343.00.Nishat Mills topped the list of the companies which reflected significant turnover as it reported a turnover of 23,012,200, followed by DG Khan Cement 22,909,800, The Bank of Punjab16,167200, Bank Al-Falah 15,607,500, Engro Chemicals 12,965,000, Pak Oilfields 10,451,400, Azgard Nine 9,821,000, Pak PTA Ltd 9,329,500, Fauji Fert Bin 8,497,000, and lastly PTCLA 8,470,200. Similarly, the trading value also reported significant increase as it cited the figures as 4,779,585,815,565, while on Wednesday it was 4,753,427,987,958.In future contracts, 27 companies reported gains, 13 sustained losses while 2 companies remained stable. Senior broker, Ghani Bhai, opined that the Karachi Share Market had been moving "very soundly" and the investors were out to make some 'big investments.' The market has fully attained the much needed stability and now it was consolidating its position regularly. He hoped that the market would continue to behave in an orderly manner. The weekend session tomorrow will be 'very important' and may witness some more records.

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