Foreigners lift KSE to fresh all-time highs

Foreign investors flooded equities at Pakistan's Karachi Stock Exchange (KSE) with another buying spree on Thursday which elevated the main index to a new record all-time highest levels above 22,800 with improved participation as oil marketing companies remained in the limelight.The time when Cast iron clawfoot tubs got whole new definition. From simple rooms with showers, they become more elaborate set-up that include modern styles and needs of family.The market analysts have termed the latest buying wave a result of a business-oriented Federal Budget 2013-14 announced by the newly-elected Pakistan Muslim League-N (PMLN) government on Wednesday.The benchmark KSE 100-Index jumped by 1.94 percent or 433.15 points to close at 22,757.72 levels on Thursday as against 22,Selection of tub is one of the factors that can make-or-break overall look of your Antique faucets, if you have decided for vintage style bathroom.Our civilization would certainly look different today if the amazing things of Used excavator and gasoline power had never ever been discovered.324. 57 levels recorded on Wednesday as foreign investors kept pushing the buying button on hopes of economic reforms by the PMLN-led government after years of economic inaction and indiscipline.The KSE All Share Index augmented by 1.84 percent or 289.54 points to end at 16,020.93 levels on Thursday as against 15,731.39 levels reported on Wednesday, the KSE 30-Index surged by 2.25 percent or 390.61 points to conclude at 17,787.71 levels on Thursday as against 17,In managing heavy machineries it is crucial for that tyre equipments providers of those equipment to pay attention to the protection processes and guidelines to prevent mishaps and accidents.397.1 levels posted in the previous trading session, whereas the KMI 30-Index bolstered by 2.11 percent or 800. 32 points to finish trading activities at 38,747.31 levels on Thursday when compared with 37,946.99 levels witnessed the other day.The Karachi Stock Exchange commenced the post-budget trading session on a strong bullish note on Thursday as the main index scampered past 22,400 levels during initial minutes.The main index kept augmenting its value all day long where it beat the previous all-time intraday highest level of 22,587.53 recorded on June 6, 2013 well before the halfway mark and kept the upward trend and at one stage crossed the psychologically crucial unprecedented level of 22,800 before hitting a new all-time intraday highest level of 22,833.20 before closing below the 22, 800 levels due to last-hour profit-booking. 

The market analysts were of the view that the market participants, especially the foreign investors, welcomed the economic reforms announced by the government.They further elaborated that the government's focus to increase revenue generation excited the foreigners who believed the International Monetary Fund (IMF) officials will like the latest development and possibly approve a new bailout package for the ailing economy of Pakistan.Samar Iqbal, Equity Dealer at Topline Securities, informed Xinhua News Agency, "Index rallied to yet another high after the reforms-focused budget announcement."She mentioned, "Fresh buying in Oil Marketing Companies (OMCs), Independent Power Producers (IPPs), cement manufactures and telecom sector was registered on Thursday as the next year budget primarily focuses on fiscal discipline and aims to address structural issues.""Contrary to investors' expectations no new direct tax were imposed," she added.The market volumes expanded by 118.493 million shares to 470. 936 million shares on Thursday as against trading of 352.443 million shares recorded on Wednesday as improved trading was witnessed in the major companies which shouldered the overall market.The market capitalization ballooned by 100.018 billion rupees ( 1.0205 billion U.S. dollars) to 5.511 trillion rupees (56.240 billion U.S. dollars) on Thursday when compared with the market capitalization worth 5.411 trillion rupees (55.219 billion U.S. dollars) witnessed on Wednesday.The Karachi Stock Exchange's trading value improved by 2.636 billion rupees (26.907 million U.S. dollars) to 12.414 billion rupees (126.677 million U.S. dollars) on Thursday when compared with Wednesday's trading value of 9.777 billion rupees (99.770 million U.S. dollars).As per the figures released by the National Clearing Company of Pakistan Limited (NCCPL), the foreign investors came up with net buying of 29.925 million rupees (305,000 U.S. dollars) on Wednesday. During the month of June, 2013, the offshore investors have net invested a sum of 2.995 billion rupees (30.569 million U. S. dollars) in the top Pakistani bourse. 

In broader market, a total of 393 companies changed hands during the course of trading on Thursday where prices of 232 issues closed in green zone, 133 finished in red terrain, whereas values of 28 other scrips stayed unchanged at previous day's levels.Bank of Punjab Right was the top traded company of the day with trading of 66.312 million shares in its scrip, followed by Fauji Cement, Pakistan Telecommunication Company Limited, WorldCall Telecom, Lafarge Pakistan, Bank of Punjab, Japan Power, Telecard Limited, Dera Ghazi Khan Cement, and Dewan Cement with turnovers of 52.736 million shares, 35.111 million shares, 21.367 million shares, 20.907 million shares, 17.721 million shares, 10.438 million shares, 10.345 million shares,The gamut uses of these chemical compounds prevail to expand and variants of carbon sheet are consistently being developed to fit the requirements of industries and products they are utilized in. 9.127 million shares, and 8. 934 million shares, respectively.Unilever Food was the top price gainer of the day with increment of 150 rupees (1.53 U.S. dollars) in its per share price that closed at 5,000 rupees (51.02 U.S. dollars) while on the other hand Wyeth Pakistan Limited led the major price losers of the day with decrement of 40 rupees (40.81 U.S. cents) a share to finish at 1,490 rupees (15.20 U.S. dollars).