Post Panama Decision Bourse: KSE-100 index gains 42 points

Post author:M M Alam
Post published:26/04/2017
Post category:Business / Economy / Karachi / Slider

SANA MAHMOOD

KARACHI: Bourse has remained in the green since announcement of Panamagate decision. Today’s trading session too was bullish as KSE-100 index gained 42 points closing at 49,827 points.

Rs. 11. 9 billion worth of 120.9 million shares were traded with traders propensity tilted towards commercial bank, chemical & engineering stocks.

Of 388 entities traded 19 remained unchanged, 167 gained while the remaining declined.

Top five leaders today were: Summit Bank 22.6m shares (+4.42pc), Azgard Nine 21.7m shares (-0.07pc), Engro Polymer 20.2m shares (-3.23pc), Aisha Steel Mill 20.2m shares (-1.02pc), Bank of Punjab 18.9m shares (+7.87pc).

It is pertinent to mention here that bulls (unleashed post deflation of Panama balloon) raged all over the bourse as soon as the trading week commenced. Benchmark KSE-100 index gained almost one percent on Monday (24^th of April).

What exactly unnerved the traders for months making index to fluctuate for months between 47 to 49,000?

The crux of the matter is that the PM, himself an entrepreneur, is reckoned by the community as business friendly Chief Executive. And the fear was that he might be shown the door by the judiciary.

Tags: Post Panama Decision Bourse: KSE-100 index gains 42 points

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.

SANA MAHMOOD

KARACHI: Bourse has remained in the green since announcement of Panamagate decision. Today’s trading session too was bullish as KSE-100 index gained 42 points closing at 49,827 points.

Rs. 11. 9 billion worth of 120.9 million shares were traded with traders propensity tilted towards commercial bank, chemical & engineering stocks.

Of 388 entities traded 19 remained unchanged, 167 gained while the remaining declined.

Top five leaders today were: Summit Bank 22.6m shares (+4.42pc), Azgard Nine 21.7m shares (-0.07pc), Engro Polymer 20.2m shares (-3.23pc), Aisha Steel Mill 20.2m shares (-1.02pc), Bank of Punjab 18.9m shares (+7.87pc).

It is pertinent to mention here that bulls (unleashed post deflation of Panama balloon) raged all over the bourse as soon as the trading week commenced. Benchmark KSE-100 index gained almost one percent on Monday (24th of April).

What exactly unnerved the traders for months making index to fluctuate for months between 47 to 49,000?

The crux of the matter is that the PM, himself an entrepreneur, is reckoned by the community as business friendly Chief Executive. And the fear was that he might be shown the door by the judiciary.

M M Alam

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It is pertinent to mention here that bulls (unleashed post deflation of Panama balloon) raged all over the bourse as soon as the trading week commenced. Benchmark KSE-100 index gained almost one percent on Monday (24^th of April).