Index crosses 9300 level on buying spree

Heavy buying pushed up the 100-Index of Karachi Stock Exchange (KSE) by 55.17 points to close at 9,306.36.19, dealers said. A dealer said that market was bullish since morning and surged by 100 points on hectic buying in the first session. Index touched 9380 level in the second session, but slipped on profit taking, he added.

The turnover volume was high at 140.320 million shares as 193 scrips advanced and 161 sustained loss while 18 remained unchanged.

The market capitalization was also improved by Rs 15 billion to Rs 2.686 trillion.

Bank Al-Falah was the volume leader with a turnover of 33.465 million shares followed by PTCL 10.476 million shares, Pak PTA 6.785 million shares, OGDC 6.417 million shares and Pace Ltd 6.337 million shares.

Engro Chemical closed at 181.29, Nishat Chunian 16.20, PTCL 18.22, Arif Habib Sec 47.78, OGDC 110.98, Pak PTA 7.62, Adamjee Insurance 121.65 and Nishat Mills 66.49.

Siemens Pak recorded the highest increase of Rs 52.48 to 1307.48 followed by Pak Engg. which moved up by 14 to 314 while Bata Pak dipped by 44 to 981 and Wyeth Pak went down by Rs 21 to 1250.