SANA MAHMOOD

KARACHI: As the hype of Panamagate diminished and political dust seems to be settling down, bears that dominated the bourse last week slowly disappeared facilitating entrance of the bulls. 

The trend allowed the benchmark KSE-100 Index close with an increase of 98 points at 46,010.

Rs. 14.8 billion worth of 150 million shares of KSE-100 companies changed hands.

With a trade of 40.8 million shares textile sector led the day while with 35.5 million and 29.1 million shares the banking and engineering sectors remained in the race till the end of the day.

Top five leaders of the day were: Azgard Nine, 33.14m shares (-3.14pc); K-Electric Ltd., 19.77m shares (-0.46pc]; Sui Southern Gas, 18.23m shares (-3.24pc); TRG Pak Ltd., 9.9m shares (+1.09pc) & Aisha Steel Mills 9.8m shares (+2.30pc).      Savants at the helm of affairs are of the view that the increase of crude prices was one of the factors that allowed the bourse end bullish. 

RELEVANT PIECE PUBLISHED EARLIER

SANA MAHMOOD

KARACHI: The PSX – that by and large remained in the red since Panamagate hearing commenced – turned bullish today.

Buyers were motivated to learn that Government was ready to accept Panamagate verdict.  

Though most of the investors remained on the sidelines yet KSE-100 Index gained 0.52 percent by the close touching 45, 294 points.  

Today’s trading was led by Technology, Communication and Textile sectors with 16.6 million, 13.9 million and 11.4 million shares traded respectively.

During the day Rs. 5.2 billion worth of 57 million shares were traded. Of the 350 companies that traded, value of 18 remained stagnant, 128 plummeted while the rest gained. 

The top five leaders today were : TRG Pak Ltd., 12.5m shares (+4.77pc); Dewan Motors, 8.4m shares (+3.81pc); Azgard Nine, 6.3m shares (+5.56pc); Engro Polymer, 5.8m shares (+2.92pc); Aisha Steel Mills,  5.4m shares (+1.34pc).