KSE gains 41 points on hopes of healthy corporate results

by Noor Bangash Wed Sep 14, 2011 11:30 am

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KARACHI: Stock prices at local equities market ended higher on Thursday amid investor hopes of healthy corporate results as the quarterly earnings season started.

The Karachi Stock Exchange's benchmark 100-share index ended 0.33 percent, or 41.59 points, higher at 12,474.76.Volume was 70.32 million shares, compared with 83.24 million shares on Wednesday.

"Hopes of good earnings have resulted in activity picking up in the market," said Asif Jan Mohammad, a dealer at Taurus Securities.

"We can see investor interest in the fertiliser, banking and oil stocks, and most of it is earnings driven," he said.

Most big companies are scheduled to announce their quarterly results in the coming days.

Among the volume leaders on Thursday were Fatima Fertiliser , which ended 0.18 percent higher at 17.10 rupees.

Fauji Fertiliser ended flat at 164.50 rupees while Bank Alfalah gained 2.94 percent to close at 10.85rupees. (Reuters)