KSE-index rests at 9990 after breaching 10,000 mark

KARACHI: The bulls ruling the roost since last fast few days in the Karachi Stock Exchange (KSE) went berserk today to breach the barriers of 10,000 points after ten long months, but it failed to sustain the earlier robust bullish sway until closing of the market and thus, KSE-100 index ended gaining by 104 to finally peg at 9990 points.

Since the beginning of the business session today, the market kept buzzing with the expectations of retrieving its earlier hallmark of March 15, when the market had breached 10,000 marks. Banking, Telecom, Oil and Gas and Fertilizer sectors played the pivotal role in translating the hopes into reality.

However, the profit takers at this stage finding the prices of shares attractive sneaked into the melee and started selling shares, which ambushed the investors’ march of sustaining the new record registered.

Volume leaders National Bank up by Rs9.25 closed at Rs226.00, MCB Bank surged by Rs3.75 to Rs189.75, while Fauji Fertilizer Bin Qasim gained Rs0.45 to end at Rs40.15.

Turnover today swelled by 61.5 million shares reached 321.2 million shares, while transactions in future contracts remained at 86.6 million shares.