Selling above 14,000 level limits KSE gains

KARACHI: Stocks at the apex bourse ended higher on Tuesday, led by the cement sector, but gains were limited as cautious investors squared positions when the market topped the psychologically key 14,000 line, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended up 0.28 percent, or 38.44 points, at 13,903.12 points.

Volume fell to 166.98 million shares, compared with 348.24 million shares traded on Monday.

"For technical reasons, we have seen selling above 14,000 points. Once the index comfortably consolidates above that level, the market should rise further," said Shuja Rizvi, a dealer at Al-Hoqqani Securities.

The KSE-index made an intra-day high at 14,002.69 points.

Traded volume leader NIB Bank rose 4.6 percent to 2.98 Pakistani rupees, Dewan Cement gained 16.2 percent to 7.19 rupees and D.G. Khan Cement rose 5 percent to 41.55 rupees. (Reuters)