ISLAMABAD, Jan. 20 (Xinhua) -- The Pakistan Stock Exchange (PSX) stayed bullish for the second straight day on Friday as investors continued buying scrips in the steel sector following an imposition of anti-dumping duty on cold rolled coils for the next five years by the National Tariff Commission on Thursday.
The Pakistan Stock Exchanges benchmark KSE 100-Index surged by 0.72 percent or 351.01 points to 49,364.83 points on Friday when compared with 49,013.82 points posted on Thursday. During the week that ended on Jan. 20, the top Pakistani bourse accumulated 154.33 points despite three of five sessions ending on the sore note.
The KSE All-Share Index soared by 0.78 percent or 261.06 points to 33,804.97 points, the KSE 30-Index grew by 0.52 percent or 135.73 points to 26,436.65 points, the KMI 30-Index expanded by 0.84 percent or 702.39 points to 84,801.46 points, whereas the Islamic All-Share Index augmented by 0.75 percent or 177.58 points to 23,842.47 points.
During Fridays trading session, the main index moved in a narrow range of 452.71 points as it touched an intraday high of 49,466.53 points as against an intraday low of 49,013.82 points.
A continued interest in steel sector companies led Aisha Steel Limited and Inter Steel Limited to close at their upper limits of 5 percent each after Thursday's announcement by the NTC.
Charat Cement Company Limited (CHCC) announced through a notice at PSX that it has commissioned a second line of cement manufacturing and waste heat recovery plant which will increase its production to 2.4 million. The news eventually gave CHCC rise by 4.3 percent.
Market volumes were bolstered by 0.71 percent or 3.226 million shares to 459.724 million shares on Friday when compared with a trading of 456.497 million shares reported on Thursday. During the week under review, the premier Pakistani equity market posted total volumes of 1.942 billion shares at an average daily turnover of 388.512 million shares.
Market capitalization jumped by 0.77 percent or 75.449 billion rupees (699.899 million U.S. dollars) to 9.904 trillion rupees whereas trade value depleted by 1.62 percent or 378.239 million rupees to 22.901 billion rupees.
Among 425 active scrips on Friday, prices of 262 issues advanced, 154 shrank, whereas values of nine other companies stayed unchanged for the week.
Telecard Limited, Faysal Bank Limited, and TRG Pakistan Limited were the top traded companies with turnovers of 49.057 million shares, 29.823 million shares, and 19.036 million shares, respectively.
Bata Pakistan was the top price gainer with an increment of 198.79 rupees to close at 4,190.99 rupees while on the other hand, Wyeth Pakistan Limited led the major price shedders with a decrement of 92.51 rupees to finish the week at 4,739.99 rupees.(1 U.S. dollar = 107.8 rupees)