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PAKISTAN PETROLEUM PRICE HIKE TRIGGERS BUYING IN ENERGY SHARES.
AsiaPulse News, October, 2002
KARACHI, Oct 18 Asia Pulse - Stocks on Wednesday rose further across the board boosted by heavy buying in the energy shares on the perception of higher earnings followed by upward revision in the petroleum prices. The index recovered another 19.07 points at 2,082.24.
On the forward counter, PSO came in for strong speculative support almost from all the quarters and turned out a massive activity of 25m shares, up Rs.4.80 at Rs.159.15.
Equally important was brisk activity on the defaulter counter where most of the undervalue shares attracted active support under the lead of Suzuki Motorcycle, up Rs.1.40 at Rs.8.50 on 0.202m shares. It signals a major post-election shift in future investor perceptions, one broker said.
The KSE 100-share index...
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