KSE-100 index gains 51 points to remain above 40,000 levels


Amanullah Khan

Karachi—KSE-100 Index gained 51 points amid huge market volumes of 876 million shares traded today amid brisk trading activity enabling index to close in green at 40414 levels here on Monday.
The volume leader of the day was WorldCall Telecom with a trade volume of over 70 million shares to their credit while second and third volume leaders were Bank of Punjab and PACE Pakistan with trading activity of 67 million shares and 39 million shares respectively. Most of the trading activity was reported from stocks of smaller value prone to profit making in day trading.
Meanwhile international oil prices finally gained some momentum as clashes in Libya once again raised concerns that the exports might be halted. In addition, Venezuelan President said that OPEC and non-OPEC producers might freeze oil output this month, in order to stabilize oil markets. Furthermore, Iran will also support any move to stabilize oil market if it is based on justice and fair quota of all the oil producers, according to Iranian oil ministry.