KSE goes green; volumes vault to 6-year high

KARACHI: Volume on the Karachi bourse hit a six-year high on Friday with investors hopeful of progress on capital gains tax reforms, dealers said, while the exchange closed a high note.

The Karachi Stock Exchange (KSE) benchmark 100-share index rose 0.61 percent, or 81.35 points, higher at 13,352.74 points.

Turnover rose to 552.79 million shares, its highest since March 2006.

"Volume touched a six-year high of more than 550 million shares in anticipation of progress on capital gains tax reforms," said Samar Iqbal, a dealer at Topline Securities.

"Major activity was seen in low price stocks as NIB Bank (and) TRG."

NIB Bank, volume leader, ended 51.85 percent higher at 2.87 rupees, and TRG Pakistan gained 36.6 percent to end at 3.62 rupees. (Reuters)