Karachi: Good surge was witnessed in the KSE-100 share index as it continued to follow the footsteps of international markets’ trend.
According to Adeel & Nadeem Securities Limited, the KSE-100 share index concluded the session with an increase of 276.37 points (+2.50 percent) at 11,311.29. The market range of the KSE-100 index for the session was 11,055.78 – 11,365.73. Total shares traded during the session however decreased further marginally by 1.49 million shares from the previous turnover of 69.14 million shares to reach at 67.65 million shares. The KSE-100 share index opened the session at 11,055.78 with an upside gap of 20.86 points and immediately surged further as opening proved to be the day’s low. However some profit taking at higher levels was also seen later on. Foreigner investors were once again seen on the selling side with a net sale of $US 3.04 million during the session. Out of 335 active scrips, 200 companies closed in the positive, 50 closed in the negative region, while the values of 85 stocks remained unchanged.
The KSE-100 share index has currently become highly volatile and although the prices are undervalued, the bearish sentiments are currently playing a significant role in downward play. Major resistance lies at 11,365 and support at 10,900 and 10,732.