Bullish trend was witnessed at the Karachi share market on Wednesday on the back of aggressive buying by local investors and institutions and the KSE-100 index breached 13,900 psychological level.
The index registered healthy gains of 254.22 points and closed at the level of 13,945.30 points.
The foreign investors however remained on the selling side and withdrew $0.94 million from the local equity market.
Trading activities also improved significantly as the daily volumes increased to 409.301 million shares as compared to 318.143 million shares traded on Tuesday. Total market capitalization increased by Rs 64 billion to Rs 3.575 trillion. Of the total 369 active stocks, 228 closed in positive and 85 in negative while the value of 56 stocks remained unchanged.
Lafarge Pakistan was the volume leader with 30.369 million shares and gained Re 0.29 to close at Rs 5.11. In other cement sector stocks, DG Khan Cement inched up by Re 0.86 to close at Rs 38.62 with 18.587 million shares. Azgard Nine increased by Re 0.74 to close at Rs 10.02 with 26.210 million shares.
Source: Business Recorder