Updated on
Summary
MCBs positive results and the approval to buy RBS by its board of directors put bulls on driving seat at Karachi Stock Exchange (KSE) on Monday as the main index went past 8,000 levels. The positive activities filled up the Exchange as bears got little room to survive and the key index went on to hit highest level of the day of 8,071.46 levels. The market, as expected, started off the proceedings in a buying euphoria, where aggressive buying by the investors pushed the main index over psychological barrier of 8,000 levels. MCB Bank's Board of Directors formally approved the proposed acquisition of The Royal Bank of Scotland Ltd (RBS) in the country. Oil and Gas Development Company Limited was leading the way on volume leaders' table with turnover of 14,393,378 shares, followed by DG Khan Cement and Arif Habib Securities with 10,657,093 and 7,384,653 shares respectively.
