Karachi stock exchange gains 63.39 points


KARACHI: The Karachi share market remained quite range-bound on Friday amidst protests in the country against killings of scores of seminary students in Rawalpindi.

The KSE-100 shares index gained 63.39 points or 0.27 percent to end the session at 23,847.57 points. KSE-30 shares index gained 5.63 points or 0.03 percent to close at 17,982.65 points.

The ready market volumes stood at 123.507 million shares as compared with 144.347 million shares a day earlier.

The country witnessed protests after around 100 seminaru students were slain in Rawalpindi and their corpses were allegedly removed by the authorities to cover-up the massacre undertaken by participants of a ‘Shia’ procession.
Samar Iqbal at Topline Securities said that amid protests in the country, the market remained range bound with 40% decline in the volumes.

Renewed interest was seen in Engro Corp and PSO. Successful book building of Engro fertilizer, which was oversubscribed by 4 times, kept Engro Corporation in limelight. While PSO gained Rs6.00 on the back of expected hike in oil marketing companies (OMCs) margin with 3.5 million shares exchanged hands.
Fauji Cement (FCCL) remained the top volume leader with 15 million shares followed by Pakistan Telecom (PTC) with 8.0 million shares and JSCL with 5.9 million shares.