Karachi Stock Exchange closes at all-time high

KARACHI: Pakistan’s largest stock market closed at an all-time high on October 3, 2012. The market breached the previous record of 15,676 points – achieved on April 18, 2008 – to close above the 15,700 points barrier.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.41% or 63.92 points to end at 15,712.21 points.

Trade volumes, however, dropped to 108 million shares, compared with Tuesday’s tally of 140 million shares. The value of shares traded during the day was Rs4.20 billion.

Shares of 376 companies were traded on Wednesday. At the end of the day 186 stocks closed higher, 124 declined while 66 remained unchanged.

Jahangir Siddiqui & Company was the volume leader with 13.35 million shares gaining Rs0.56 to finish at Rs13.99. It was followed by Nishat Mills Limited with 4.57 million shares gaining Rs1.35 to close at Rs58.85 and Askari Bank with 4.32 million shares gaining Rs0.06 to close at Rs15.47.

Foreign institutional investors were buyers of Rs148.84 million and sellers of Rs236.41 million, according to data maintained by the National Clearing Company of Pakistan Limited.