KARACHI: The Halal stocks KMI 30 share index gained 111.80 points or 0.56 percent during the week.KMI-30 Index climbed up last week to close at the level of 20,076.57as compared to last week's closing level of 19,964.77 points.
The overall 102 Halal Stocks recorded average daily volumes of 25.956 million shares as compared to 21.420 million shares in the previous week.
US downgrading by Standard and Poor (S&P) along with fears of new double dip recession and Europe's economic crisis made global markets to go haywire and impacted the local bourse as volatility prevailed throughout the week.
Monday, August 8
The KMI 30 share index climbed up by 187.12 points on first day of the week to close at 20,151.89 points as against 19,964.77 points, the closing figure of the last trading session. Halal index witnessed traded volumes of 35.879 million shares. Market was positive as local investors were more interested in the stocks which have growth and high yield. The market closed in positive territory despite all other major Asian markets falling amid global concerns over the US credit downgrade by S&P.
Tuesday, August 9
The KMI 30 share index went down by 655.40 points on Tuesday to close at 19,496.49 points; Halal index witnessed thin volumes of 29.027 million shares traded. The market took a dip after gaining on first day of the week as investors started accumulating shares at lower levels. Prevailing financial announcement season couldn't spur investors and they remained very cautious throughout the trading day.
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