KSE maintains firm posture

The new trading week began on positive note at Karachi Stock Exchange as the KSE-100 Index gained 13.93 points to close at 23,381.08 against 23,367.15 last Friday. The index touched 23,588 highest and 23,367 as lowest levels during the intra-day trading. The market capitalisation witnessed higher trend and stood at Rs 5.533 trillion against Rs 5.531 trillion. The trading side also maintained the same level and the volume at the ready counter closed up at 205.244 million shares from 137.906 million shares.
Commenting on the market performance, Samar Iqbal, an analyst at Topline Securities said the local bourse closed in green with decent volume of Rs 7bn following the IMF's satisfaction over Pakistan's quarterly performance.
Although most of the stocks rallied but the decline of index heavyweights - MCB and OGDC curbed the upside. Institutional support helped National Bank close at upper limit while AICL also gained 5 percent after announcing 183 percent surprise bonus issue, she said. She said Jahangir Siddiqui Company witnessed healthy participation of 34mn followed by Bank of Punjab with 18mn shares and PIAA with 14mn shares.
Out of total 310 active stocks, some 172 scrips witnessed positive trend, 109 negative and that of 29 remained unchanged. Two top gainers for the day were Rafhan Maize XD, which shot up by Rs 240 to Rs 5490 and Mithchells Fruit, which climbed by Rs 23.58 to RS495.21. The top losers were Nestle Pak XD, which shed Rs 350 to Rs 7000 and Wyeth Pak, which lost Rs 213.75 to Rs 4136.25.
Of the Top 10 volume leaders, Jahangir Siddiqui Company led the tally with 34m shares, moving up by 57 paisa to close at Rs 9.80. B.O. Punjab closed on at Rs 10.55 with an addition of 14 paisa on some 18m shares; and PIAC (A) fell by 49 paisa to close at Rs 7.33 on 13m shares volume. Fauji Cement XD lost seven paisa to close at Rs 12.10 on 11m shares; PTCLA gained 11 paisa to close at Rs 27.49 on 11m shares; and National Bank bagged eight paisa to Rs 51.10 on 9m shares.
Maple Leaf Cement gained 11 paisa to close at Rs 22.20 on 8m shares; Nishat Mills XD moved up by two paisa to close at Rs 100.02 on 4m shares; PSO XD witnessed an addition of Re1.98 to close at Rs 298.90 on 4m shares; and DGK Cement XD rose by 32 paisa to Rs 72.39 on 4m shares.