Summary The benchmark KSE 100-Index jumped by 1.38 percent or 347.71 points to close at 25,608.85 points.
ISLAMABAD (Web desk) -- Karachi Stock Exchange (KSE) began the New Year in grand style on Wednesday when its key index jumped by over 300 points to close at a fresh all-time highest point while volumes surged by 117 percent as investors anticipated increased fund allocation in the market for the Year 2014.
The benchmark KSE 100-Index jumped by 1.38 percent or 347.71 points to close at 25,608.85 points on Wednesday as against 25,261. 14 points recorded on Tuesday.
The KSE All Share Index augmented by 1.33 percent or 249.09 points to end at 18,913.13 points, the KSE 30-Index increased by 1. 41 percent or 264.61 points to conclude at 19,073.47 points, whereas the KMI 30-Index ballooned by 1.9 percent or 804.24 points to finish at 43,235.29 points on Wednesday.
During Wednesday's trading session, the key index touched an intraday high of 25,628.41 points as against an intraday low of 25, 261.14 points.
Report of 1.3 percent decline in inflation attracted renewed investor interest in cement and textile sector stocks as the fears of interest rate hike in the upcoming monetary policy subsided to a certain degree.
Market volumes more than doubled with increase of 180.457 million shares to 341.090 million shares, capitalization swelled by 80.457 billion rupees (766.258 million U.S. dollars) to 6.136 trillion rupees (58.447 billion dollars), whereas the KSE trading value jumped by 5.469 billion rupees (52.089 million dollars) to 10.124 billion rupees (96.422 million dollars) on Wednesday.
Among 404 active scrips Wednesday, prices of 295 issues advanced, 94 declined, whereas values of 15 other companies stayed unchanged at previous day's levels.
Azgard Nine Limited, Fauji Cement, and Maple Leaf Cement were the top traded companies with turnovers of 31.135 million shares, 28.201 million shares, and 16.434 million shares, respectively.
Nestle Pakistan was the top price gainer with increment of 376. 50 rupees (3.58 dollars) to 7,926.50 rupees (75.49 dollars) while on the other hand Rafhan Maize Products led the major price shedders with decrement of 67.38 rupees (64.17 U.S. cents) to finish at 8,000 rupees (76.19 dollars).
