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|Subject: Closing: KSE gains 74pts, up 0.23% to close above 32,000pts mark Tue 09 Dec 2014, 12:45 pm|| |
KARACHI: The Karachi Stock Exchange benchmark KSE 100-index gained 73.83 points or 0.23 percent to reach 32084.16 points and volume of 209,727,520 shares on Tuesday.
The market opened at the overnight closing of 32,010.33 and remained in red zone, failed to recoup overnight losses and soon share prices sank with the KSE-100 index went down below its all time high of 32,000.
It is to be noted that on Monday, after a firm opening, the market soon became a casualty of the political mayhem in the country. Market participants moved to the sidelines, manifest in the volume of shares traded which dipped by 100 million shares or 35pc to 186m shares traded on Monday.
As a whole 31.09 per cent of companies witnessed increase in their shares while 26.81 per cent lost their share value and 2.63 percent companies remained stable.
High and Low were 32099.92 and 31815.83 respectively. Total volume traded in the market was 209,727,520 shares.
Analysts stated that clashes between political parties in the Faisalabad, falling trend in international oil prices to a five-year low and a grim earnings outlook for some blue chip oil stocks played a catalyst role in bearish activity at KSE. They stated that oil & gas sector remained under pressure due to low international oil prices.