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Pakistani stocks close beyond 46,000-level for first time
Last Updated: 2016-12-15 07:29 | Xinhua
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The Pakistan Stock Exchange (PSX) continued clinching the unseen highs for the eighth straight session on Wednesday as investors remained on the buying counters for the ninth straight day with a special focus on top banks and oil companies.

The Pakistan Stock Exchange's benchmark KSE 100-Index surged by 0.71 percent or 327.38 points to a fresh historic closing high of 46,185.27 points on Wednesday when compared with the previous all-time peak of 45,857.89 points reached on Tuesday. During the unflinching nine-day bullish rally, the key index has piled on 3,562.90 points.

The KSE All-Share Index grew by 0.59 percent or 185.47 points to 31,603.73 points, the KSE 30-Index expanded by 0.99 percent or 246.34 points to 25,027.58 points, the KMI 30-Index augmented by 1.29 percent or 1,008.40 points to 79,407.64 points, whereas the Islamic All-Share Index skyrocketed by 0.71 percent or 157.32 points to 22,233.76 points.

During Wednesday's trading session, the main index moved in a broad range of 665.80 points as it achieved an all-time intraday high of 46,268.44 points as against an intraday low of 45,602.64 points.

Habib Bank Limited (HBL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfield Limited (POL) together contributed 250 points to the overall surge.

Pakistan Petroleum Limited extracted positive numbers from a revision of SUI Gas lease agreement by the Economic Coordination Committee of the Federal Cabinet (ECC). The news led to a huge interest in Pakistan Oilfield Limited, Pakistan Petroleum Limited, and Oil and Gas Development Company which gained 5 percent, 5 percent, and 1 percent, respectively.

Some recovery in cement stocks was observed as Dera Ghazi Khan Cement (DGKC), Maple Leaf Cement (MLCF) gained between 2.4 percent and 4.2 percent. Sui Northern Gas Pipelines (SNGP) continued to attract investors and jumped by 4.8 percent largely on the hopes of better upcoming results.

Market volumes depleted by 5.81 percent or 22.269 million shares to 360.776 million shares on Wednesday when compared with 383.046 million shares posted on Tuesday.

Market capitalization swelled by 0.59 percent or 54.397 billion rupees (518.072 million U.S. dollars) to 9.269 trillion rupees (88.277 billion dollars) while on the other hand, trade value shrank by 13.03 percent or 2.843 billion rupees (27.079 million dollars) to 18.973 billion rupees (180.698 million dollars).

Among 412 active scrips on Wednesday, prices of 226 issues declined, 171 increased, whereas values of 15 other companies stayed unchanged.

Dolmen City REIT XD, TRG Pakistan Limited, and Bank of Punjab were the top traded companies with turnovers of 30.792 million shares, 29.691 million shares, and 17.158 million shares, respectively.

Wyeth Pakistan Limited led the top gainers with an increment of 81.77 rupees (77.88 cents) to 4,784.10 rupees (45.56 dollars) whereas Indus Motor Company topped the major price shedders with a decrement of 22.57 rupees (21.49 cents) to 1,587.28 rupees (15.12 dollars).

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