100-Index crosses 8200 level on S&P upgrading.

KARACHI, August 24, 2009 (Balochistan Times): Hectic buying improved values of leading scrips at Karachi Stock Exchange (KSE) Monday as 100-Index surged by 179.06 points to close at 8,287, dealers said. The turnover volume was high at 145.628 million shares as prices of 192 scrips recorded gains while 163 sustained losses and 28 remained unchanged. A dealer at a leading brokerage house said that the market was bullish since morning on the news of improvement in credit ranking by Standard & Poors. The buying spree which continued till the close on the first trading day in Ramazan, pushed up 100-Index to cross 8200 level and remained in positive zone till the close, he added. The market capitalization was improved Rs 49 billion to Rs 2.434 trillion. PTCL was the volume leader with a turnover of 13.630 million shares followed by Pak PTA with 12.440 million shares, OGDC 12.158 million shares, Arif Habib Sec 9.990 million shares and DG Khan Cement 7.039 million shares. PPL closed at 201.03, D G Khan Cement 34.14, Arif Habib Sec 32.31, PTCL 20.97, Lucky Cement 74.42, Bank Al-Falah 11.73 and OGDC 98.85. Unilever Food recorded the highest gain of Rs 45.23 to close at 1405 followed by Wyeth Pak which went up by Rs 51.16 to 1188.14 while Siemens Pak dipped by Rs 42.50 to 1030 and Treet Corp down by Rs 24.07 to 457.51.

(THROUGH ASIA PULSE)