Pakistan's KSE jumps 1.51% amid renewed interest

Pakistan's Karachi Stock Exchange (KSE) spiked by around 500 points to above 32,700 points on Thursday as rise in international oil markets continued inspiring local investors which also resulted in elevated turnovers.

The benchmark KSE 100-Index surged by 1.51 percent or 487.58 points to 32,736.44 points on Thursday when compared with Wednesday's closing of 32,248.86 points. During the two-day bullish streak, the key index jumped by 626.57 points after starting the week with a two-day bearish run which resulted in decline of 246.06 points.

The KSE All Share Index increased by 1.07 percent or 243.65 points to 23,058.40 points, the KSE 30-Index augmented by 1.88 percent or 383.22 points to 20,776.36 points, whereas the KMI 30- Index bolstered by 1.78 percent or 942.55 points to 53,781.20 points.

During Thursday's trading session, the key index touched an intraday high of 32,760.56 points as against an intraday low of 32, 248.86 points.

Market volumes improved by 65.05 percent or 146.899 million shares to 372.725 million shares on Thursday as against 225.825 million shares posted on Wednesday, the capitalization jumped by 1. 06 percent or 74.875 billion rupees (748.759 million U.S. dollars) to 7.156 trillion rupees (71.561 billion U.S. dollars), whereas the trading value ballooned by 50.35 percent or 5.554 billion rupees (55.542 million U.S. dollars) to 16.585 billion rupees (165. 856 million U.S. dollars).

Among 370 active scrips on Thursday, prices of 247 issues advanced, 97 depleted, whereas values of 26 other companies stayed unchanged.

Karachi Electric Limited, Jahangir Siddiqui Company Limited, and Bank of Punjab were the top traded companies with turnovers of 56.827 million shares, 24.137 million shares, and 23.075 million shares, respectively.

Bata Pakistan XD was the top price gainer with increment of 166. 65 rupees (1.66 U.S. dollars) to 3,605 rupees (36.05 U.S. dollars) while on the other hand Nestle Pakistan XD led the major price shedders with decrement of 505 rupees (5.05 U.S. dollars) to 9,595 rupees (95.95 U.S. dollars).