Stable rupee helps KSE gain 0.59 pct

Pakistani equities continued putting up a bullish show in final trading session of the week on Friday when investors at the Karachi Stock Exchange (KSE) extracted inspiration from a relatively stable rupee against the U. S. dollar in the money market.The benchmark KSE 100-Index surged by 0.59 percent or 138.63 points to close at 23,595.61 points on Friday as against 23,456.98 points recorded on Thursday as investors showed up in good number to get the best out of a bullish rally at the local bourse.During the week that ended on September 20, the KSE 100-Index jumped by 427.57 points with three out of five trading sessions ending on bullish note.The KSE All Share Index gained 0.53 percent or 89.79 points to end at 16,920.98 points, the KSE 30-Index increased by 0.65 percent or 116.36 points to conclude at 18,072.41 points, whereas the KMI 30-Index expanded by 0.69 percent or 268.37 points to finish the day and week at 39,277.6 points.The Karachi Stock Exchange began the final trading session of the week on a confused note where during initial trade the main index moved in both ways and soon it hit the intraday lowest level of 23,406.99 before regaining the losses and entering the Friday's prayer-break with increment of 48 points at 23,504.88.The post-prayer-break session started in bearish manner but soon another buying rally in banking and oil sectors helped the main index to jump to highest point of 23,663.20 before closing below 23,600 levels.Telecom sector also came in the limelight after news that government installed and launched carbon cloth monitoring system to curb gray trafficking.Pakistan Telecommunication Company Limited and TeleCard closed at their upper circuit breakers with volumes of 31 million shares and 11 million shares, respectively. 

Unconfirmed news of increase in cement prices brought renewed interest in cement sector while Nishat Power announced June earnings of 7.7 rupees accompanied by 20 percent cash dividend which also supported bulls.The market volumes improved by 21.Cast iron clawfoot tubs765 million shares to 275.672 million shares, the market capitalization augmented by 27.795 billion rupees (277.953 million U.S. dollars) to 5.542 trillion rupees (55.429 billion U.S. dollars), whereas the KSE trading value swelled by 992.436 million rupees (9.924 million U.S. dollars) to 9.934 billion rupees (99.341 million U.S. dollars) on Friday.In broader market, a total of 342 companies changed hands with prices of 183 companies advancing,glass refill 141 declining, whereas 18 others finishing at the level identical to Thursday's prices.WorldCall Telecom, PTCL, and Bank of Punjab were the top three traded companies of the day with trading of 39.915 million shares, 30.702 million shares, and 15.130 million shares, respectively.Wyeth Pakistan Limited led the top price gainers with increment of 182 rupees (1.82 U.S. dollars) to end at 3,822 rupees (38.22 U. S. dollars) while Island Textile led the major price shedders with decrement of 33.87 rupees (33.wheel aligner87 U.S.crystal light cents) to finish at 930 rupees (9.3 U.S. dollars).