Cements help Karachi stocks build a recordmaking rally

KARACHI: On the concrete trading foundation laid by cementmakers, Karachi Stock Exchange (KSE) built a rally to consolidate yet another all-time high here on Tuesday, Geo News reported said.

The recordmaking KSE-100 Index grew by 0.40 percent, or 73.63 points, to close at 18,345.74 points at the end of the trading day.

Tuesday’s star performers were Fauji Cement Company Ltd, which rose by 4 percent to close at 8.83 rupees and Maple Leaf Cement Factory Ltd, which gained 5.33 percent to reach Rs19.76.

Analysts said the investors remained sold to the cement stocks on hopes of better than expected earnings in March.