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KSE witnesses bullish trend

Posted by on Friday, October 8, 2010, 11:29
This news item was posted in Business category and has 0 Comments so far .

Bullish trend was seen at the Karachi Stock Market on Thursday. KSE 100-Index crossed the barrier of 10,100 points.Business activity started with posit note.

KSE witnesses bullish trend
KSE witnesses bullish trend

Due to buying by the local investors and funds, Index even crossed the barrier of 10,200 points during the trading. Bullish trend was observed because of positive information of margin trading. At the end of the business, KSE 100-index surged by 162 points and closed at 10,191 points. Business volume remained at 150 million shares.

The Karachi Stock Exchange witnessed a bullish trend on Saturday.
The KSE-100 index gained 133 points.
The index closed at 10,042 points.
Trading volume of 45.35 million shares was recorded.

Karachi Stock Exchange (KSE) witnessed dull activity on Tuesday and 100-index closed below 10,000 points level.
Trading started with positive note but buying was seen due to unclear stance over margin trading system in the press release of KSE and SECP. At the end of day, KSE 100-index closed at 9,992 points with a decrease of 71 points. Business volume remained 9.15 crore shares.

Bears ruled the roost at the Karachi Stock Market this week and 100-Index recorded overall 144 points decrease. KSE witnessed bullish trend on first business day and last business day while it declined on all other days. At the end of the week, KSE closed below 10,000 points level. At least 29.23 crore shares were traded. According to experts, the situation would remain deteriorated unless the political situation improved.

Future contracts volume decline by 43% during the last business week at KSE.
According to a report issued by Invest Cap Research, value of Future contracts at KSE declined by 346 million PKR. Average trade in future contracts was recorded 239 million shares. Spread rate on future contracts also declined by 10%.
During the business week, 64% of the investment was done in 5 big companies OGDCL, POL, ENGRO, MCB and PPL.

The Karachi Stock Exchange witnessed a bullish trend on Tuesday. The KSE-100 index gained 211 points. The index closed at 10,091 points.
The market rose on the news of positive developments on margin trading. Trading volume of 100 million shares were recorded. 228 companies recorded an increase.

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