Share index at new peak level

KARACHI — The KSE 100-share index yesterday consolidated well above its career-best level around 14,815.00 points as investors were not inclined to miss the rising market despite some negative news from the law and order front amid pre-election battle of wits.

By Our Correspondent (KSE REPORT)

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Published: Thu 27 Dec 2007, 8:26 AM

Last updated: Sat 4 Apr 2015, 9:43 PM

However, the close was well below the session's high of 14,876.00 points at 14,814.85, owing to late selling by some of the leading punters and bargain-hunters, the net rise over the session being 22.93 points.

Bank shares again led the market advance followed by oil sector and some blue chips on the other counters, notably those whose financial years are ending on December 31, and have positive feedbacks about their earnings.

"There are, however, two opinions about the presence of foreign buying on selected counters but it is there on modest scale and is not considered a positive market factor at this stage," analyst Ahsan Mehanti believes.

"There appears to be a great tussles between the leading bulls and bears whether or no to test the index level of 15,000 before the year is out," said a analyst Hasnain Asghar Ali adding consolidation forces are not inclined to go for a kill that is now not that far."

But the consensus among the leading stock analysts is that the "rubicon should be crossed the to open the new year account in buoyant mood sans election worries."

Reports of incidents of violence among the contenders of power are there but they said investors may not be deterred by them and would remain in the market, indulging in alternate bouts of buying and selling.

Rafhan Maize again led the list of leading gainers, up by another Rs.100.00 at Rs.2,300.00,followed by JS & Co, higher by Rs.51.85 at Rs.1,089.85, while Fazal Textiles and Mari Gas were quoted lower by Rs.20.00 and 10.55 at Rs. 380.00 and 285.00 respectively.

Trading volume rose to 308m shares from the previous 262m shares as gainers trailed behind losers at 176 to 180,with 29 shares holding on to the last levels.

TRG topped the list of actives,up one rupee at Rs. 14.00 on 38m shares followed by Allied Bank, higher by Rs.6.55 at Rs.141.25 on 21m shares, JS Bank, firm by 80 paisa at Rs.23.95 on 19m shares, NIB Bank, lower 20 paisa at Rs.23.40 on 18m shares, Bosicor Pakistan, easy 15 paisa at Rs. 23.10 on 15m shares, Arif Habib Securities, firm by 30 paisa at Rs. 183.30 on 10m shares, and BankIslami Pakistan, up 30 paisa at Rs.18.15 on 8m shares.

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