Daily Times

The raging bull carried on its relentless run at the market for fifth consecutive day as Pakistan stock Exchange closed in the green zone with 295.02 points gain (0.83%) closing at 35,653.33.

The index remained highly positive throughout the day touching an intraday high of 35,985, primarily because of the cut in profits rates of National Saving Schemes, which was announced last night. Of the 94 traded companies in the KSE100 Index 67 closed up and 27 closed down. Total volume traded for the index was 194.37 million shares. The overall volumes remained healthy and were recorded at 297.64 million.

Accumulating 626.90 points, the KSE-100 Index marked its intraday high at 35,985.21. It closed higher by 295.02 points or 0.83pc at 35,653.33. The KMI-30 Index gathered 579.81 points or 0.99pc to settle at 58,392.55, while the KSE All Share Index gained 269.23 points, ending at 25,551.19. Out of the total traded scripts, 230 advanced and 109 declined.

Sectors that propped up the index were Cement with 53 points, Investment Banks with 45 points and Fertilizer with 25 points and Food & Personal Care Products with 24 points and Tobacco with 23 points.

The most points added to the index were by Dawood Hercules Corporation Limited which contributed 42 points followed by Pakistan Tobacco Company Limited with 31 points, Pak Petroleum Limited with 22 points. Worldcall Telecom topped the volume chart, followed by Fauji Cement Company Limited and K-Electric Limited The scripts had exchanged 15.80 million, 15.66 million and 14.70 million shares, respectively.

Meanwhile, Forbes, a global media company that focuses on businesses, investments and entrepreneurship, has termed Pakistan’s improvement in the social entrepreneur sector as “remarkable”. The country’s overall ranking as a favourable country for social entrepreneurs has improved from 32nd place to 14th in the last three years, according to a recent survey by Thomas Reuters Foundation and Deutsche Bank’s CSR Made for Global Good.

According to Forbes, “The nation’s comeback in this category is a remarkable feat given the country was ranked at 30th position in 2016. The improvement of livable income may be because Pakistan has become a more open market for do-good companies to sell to the general public.”