KARACHI: The KSE-100 index closed positive after gaining 164.55 points on the last trading day on Friday. The market was relaxed on the political front as the resignation submission date has been extended by the opposition parties while the workers’ remittances improved during November this year.
The Karachi Share Index (KSE-100) went up by 164.56 points (0.39 per cent) after closing at 42,470.40 against the previous closing of 42,305.84 points. The market went up 42,627.13 points during intra-day trading, while recorded as low as 42,305.84 points.
Trading volume slightly improved to 557.6 million shares today as compared to 472.3 million traded in the previous session, according to PSX website data. The daily traded value increased to Rs 23.9 billion from Rs 19.3 billion in the previous session, the data said.
According to the analyst, the market was positive throughout the day today as there was good news including rising remittances, sales improvement in the auto sector and extension date for the submission of resignation date. According to the news, the Pakistan Peoples Party is not ready to submit resignation till now, the analyst claimed.
The remittances have increased to 28.3 per cent on month on month basis, which is good sign of improving economy, the analyst claimed.
The market opened on positive notes and touched almost 42,627.13 points today, but after midday, it started declining and closed at 164.56 points.
Pakistan Refinery Limited (PRL) remained on the top with 84.8 million shares after moving up Rs 1.39 on trading screen, while ANL (35.3 million shares trading).
Nestle Pakistan was the top gainer, which gained Rs 94.48 to Rs 6,819.48 while Unilever Foods was the main looser which lost Rs 900 in a day closing at Rs 13,600.