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The 120 points surge witnessed on Tuesday at Karachi Stock Exchange (KSE) was a good omen at the start of New Year as it indicated towards renewed foreign interest.
Michele Ragazzi's Giano Capital returned 1.9% for March, taking the fund's year-to-date performance to 1.7%. Since its inception, Ragazzi's flagship fund has produced a compound annual return of 7.8%. According to a copy of the €10 million fund's March update, a copy of which ValueWalk has been able to review, Giano's most significant investment at Read More
– 120.03 points were gained by KSE 100-share index, closing at 11,402.04 points.
– 183.03 points were gained by KSE 30-share index, closing at 10,378.23 points.
Both recorded an increase, compared to previous sessions.
The banking and fertilizer sections were particularly successful in terms of daily turnover. The index was able to hang on to 120 points as buying in Muslim Commercial Bank (MCB) and National Bank of Pakistan (NBP) remained active. Performance of urea companies such as Fatima, Engro, FFBL and FFC was also notable in view of anticipation that the urea prices would increase. Market turnover witnessed an increase of 90.10%. It opened at 33.16 million shares but ended up trading 63.04 million shares. Other leaders that emerged in the market share are as below:
– Lotte Pakistan PTA: 7.03 million shares, closing at Rs. 98 after gaining 68 paisas.
– Fatima Fert Co: 4.81 million shares, closing at Rs. 23.85 after gaining 1 paisa.
– Jah Siddi and Co: 4.17 million shares, closing at Rs. 4.28 after gaining 28 paisas.
– Bank Alfalah: 3.66 million shares, closing at Rs. 11.75 after gaining 40 paisas.