KSE breaches 35,900 points in 6th straight bullish day

Pakistan's Karachi Stock Exchange (KSE) witnessed sixth straight day of bullish traded on Tuesday as investors bought fresh position in anticipation of favorable corporate results while below expectations inflation number for July also wooed them.

The benchmark KSE 100-Index increased by 0.27 percent or 97.15 points to 35,921.71 points on Tuesday when compared with 35,824.56 points on Monday. During the six-day bullish spree, the main index has accumulated 746.22 points and is currently trading just 0.37 percent adrift of its all-time peak of 36,056.68 achieved on July 22, 2015.

The KSE All Share Index dipped by 0.11 percent or 26.51 points to 24,904.39 points, the KSE 30-Index gained 0.42 percent or 93.77 points to 22,371.49 points, whereas the KMI 30-Index augmented by 0.66 percent or 390.76 points to 59,202.81 points.

During Tuesday's trading session, the key index touched an intraday high of 35,959.12 points as against an intraday low of 35, 653.16 points.

Market volumes improved by 54.89 percent or 110.092 million shares to 310.670 million shares on Tuesday as against 200.578 million shares posted on Monday, the capitalization reduced by 0.1 percent or 7.615 billion rupees (76.157 million U.S. dollars) to 7. 714 trillion rupees (77.141 billion U.S. dollars), whereas the trading value surged by 40.82 percent or 3.915 billion rupees (39. 159 million U.S. dollars) to 13.510 billion rupees (135.100 million U.S. dollars).

Among 377 active scrips on Tuesday, prices of 202 issues depleted, 149 advanced, whereas values of 26 other companies stayed unchanged.

TRG Pakistan Limited, Pace Pakistan Limited, and Silk Bank(R) were the top traded companies with turnovers of 27.860 million shares, 21.394 million shares, and 20.926 million shares, respectively.

Hinopak MotorXD was the top price gainer with increment of 49. 34 rupees (49.34 U.S. cents) to 1,036.20 rupees (10.36 U.S. dollars) while on the flip side Unilever Foods led the major price shedders with decrement of 429.75 rupees (4.29 U.S. dollars) to 8, 165.25 rupees (81.65 U.S. dollars).