Karachi, June 29, 2012 (PPI-OT): Bullish trend was witnessed at the Karachi Stock Exchange in the Wednesday session due to the buying of local institutions.
According to Adeel and Nadeem Securities Limited, the KSE-100 share index concluded the day at 13,799.12 with an increase of 143.08 points (+1.05 percent). The intra-day range of the KSE-100 index for the session was 13,652.25 – 13,824.99. Total shares traded during the session increased by 36.38 million shares from the previous turnover of 57.99 million shares to reach at 94.36 million shares. The KSE-100 share index opened the session at 13,658.38 with an upside gap of 2.34 points and after briefly entering the negative zone, it gradually surged initially. However aggressive buying in the last hour was witnessed due to the rumours of deal between Pakistan and USA on NATO supply route opening issue. The foreign investors were seen on the selling side with a net sale of $US 1.46 million during the session. Out of 365 active scrips, 164 closed in the positive zone, 123 in the negative zone, while the values of 78 scrips remained unchanged.
The KSE-100 index has entered the neutral zone of 13,741- 13,856 and if it closes above it then a short term bullish run may trigger. However some profit taking in the above mentioned range should be done.