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 KSE thwarts profit-taking, foreign selling impact as 100 index up by 229.67 points to 32812.35

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PostSubject: KSE thwarts profit-taking, foreign selling impact as 100 index up by 229.67 points to 32812.35   Fri 13 Mar 2015, 7:56 am

KARACHI: Snapping prolonged losing streak at the Karachi Stock Exchange, the benchmark KSE-100 Index advanced by 229.67 points or 0.70 percent to reach 32812.35. However, the High and Low were 32812.62 and 32582.68 respectively while the total volume traded in the market was 21,099,520.
The bearish activities were at the bourse were because of volatile security situation of city with lackluster trading. However, during the last session, the INDEX gained 43.07 points to close at 32,582.68 points as compared to 32,539.61 of the previous session.
Earlier, profit taking was witnessed at highs and participants preferred to book quick gains as day progressed on reports of foreign selling and anxiety over low turnover in wider market.
An expert said, “We see fertilizer to remain in limelight over news flow related to gas tariff increase and rumors on urea retail prices. He also expected stocks would inch up and test 33,000 as central bank’s meeting to review interest rates was getting closer.
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