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Stocks manage to settle above 40,000 again
KARACHI: Stocks started off the week on a firm footing with the KSE-100 index managing to gain 96.32 points (0.24 per cent) to close at 40,023.02 on Monday.
Foreign investors bought stocks worth $1.25 million. Market participation remained upbeat with volume at three-month high at 389m shares. Trading value, however, wound down by 17.3pc to Rs12.4 billion as the activity was more pronounced in retail favourites.
K-Electric emerged as volume leader gaining 2.36pc on 50m shares as the majority equity holder confirmed its interest in selling off its stake in the utility. Fauji Cement also added 0.6pc on announcement of rehabilitation of its production line.