RECORDER REPORT: KSE close of day

KARACHI: The Karachi share market on Wednesday witnessed bullish trend on the back of local investors and institutional support and the KSE-100 index increased by 125.68 points to close at the level of 13,575.41 points.

The market opened on a strong positive note and the index breached 13,600 psychological level to hit 13,669.72 points intra-day high level. However, profit taking in some selective stocks in late hours minimized the intra-day gains.

Trading activities improved significantly due to aggressive participation of local investors as the daily volumes increased to 450.238 million shares as compared to 352.783 million shares traded on Tuesday. Total market capitalization increased by Rs 31 billion to Rs 3.484 trillion. Of the total 375 active stocks, 158 closed in positive and 153 in negative while the value of 64 scrips remained unchanged.

BoP was the volume leader with 36.288 million shares, however lost Re 1.00 to close at Rs 10.47. In the other banking sector stocks, Bank Al Falah and Soneri Bank gained Re 0.88 and Re 0.81 to close at Rs 16.06 and Rs 8.17 with 19.761 million shares and 17.685 million shares respectively. Azgard Nine decreased by Re 0.55 to close at Rs 9.32 with 32.827 million shares.