by Jawad Hussain
KARACHI, Aug. 2 (Xinhua) -- The United States paid 1.1 billion U.S. dollars under Coalition Support Fund (CSF) to Pakistan for its services and sacrifices in the War on Terror which helped equities at Pakistan's Karachi Stock Exchange (KSE) to record another bullish trading session on Thursday.
The benchmark KSE 100-Index, after spending best part of the day in green zone, swelled by 0.09 percent or 13.81 points to close at 14,730.67 levels on Thursday as against closing of 14,716. 86 levels recorded on Wednesday.
The KSE All Share Index inched up by 0.03 percent or 2.98 points to end at 10,367.31 levels, the KSE 30-Index moved up fractionally by 0.06 percent or 7.71 points to conclude at 12,719. 86 levels, whereas the KMI 30-Index surged by 0.62 percent or 157. 51 points to finish the day at 25,543.52 levels here.
The Karachi Stock Exchange commenced trading activities on a strong bullish note on Thursday when the main index surged close to 14,800 levels and soon went on to hit the intraday highest level of 14,795.44.
However, at its intraday high, the main index faced stern resistance with investors booking profits in the cement sector after continuous exposure in anticipation of strong corporate results.
The profit-booking spree cut all the gains and the main index entered the red terrain where it touched the lowest level of the day of 14,713.80 before closing just a touch higher.
Market volumes skidded lower by 1.852 million shares to 102.963 million shares on Thursday as against trading of 104.815 million shares reported on Wednesday as investors booked profits at higher levels.
The market capitalization improved by 1.06 billion rupees (11. 162 million U.S. dollars) to 3.760 trillion rupees (39.58 billion U.S. dollars) on Thursday when compared with market capitalization worth 3.759 trillion rupees (39.57 billion U.S. dollars) recorded the other day.
As per the latest figures released by the National Clearing Company of Pakistan Limited (NCCPL), the foreign investors returned to buying ways at the top Pakistani bourse on Thursday with net buying worth 117.125 million rupees (1.232 million U.S. dollars).
In broader market, a total of 307 companies changed hands during the course of trading on Thursday where prices of 165 companies ended in red territory, 112 landed in green zone, whereas values of 30 other scripts stayed unchanged at previous day's levels.
Dera Ghazi Khan Cement was the top traded company of the day with trading of 14.60 million shares in its scrip, followed by Maple Leaf Cement, Jahangir Siddiqui Company Limited, Fauji Cement, and Lafarge Pakistan with turnovers of 8.13 million shares, 5.30 million shares, 5.116 million shares, and 4.875 million shares, respectively.
UniLever Pakistan was the top price gainer of the day as its per share price augmented by 300 rupees (3.15 U.S. dollars) to close at 8,300 rupees (87.36 U.S. dollars) while on the other hand Island Textile led the major price decliners with drop of 10 rupees (10.52 U.S. cents) to finish the day at 194 rupees (2.04 U. S. dollars).