AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

The KSE-100 index during the week ended March 21, 2009 surged by 10.3 percent with average daily volume rising by 204 percent amid improving macro indicators and diminishing political uncertainty, analysts said. Despite some profit taking on Friday, the index increased by 589.89 points to close at 6,340.36 points from.
The market witnessed healthy trading activities as the average daily volumes at ready counter increased to 231.722 million shares as compared to previous weeks average of 76.255 million shares. The overall market capitalisation increased by Rs 154 billion to Rs 1.914 trillion. The outflow of foreign portfolio investment continued as the offshore investors withdrew a $31.465 million during the week.
The announcement of restoration of judiciary invited healthy buying on the start of the week and the index surged by 313.07 points to close at 6,063.54 points with a trading volume of 210.063 million shares on Monday. This trend continued and the index gained 74.99 points to close at 6,138.53 points level with 216.477 million shares on Tuesday.
The market witnessed another bullish session and the index increased by 127.47 points to close at 6,266.00 points level with 233.757 million shares on Wednesday. The index gained another 175.00 points to close at 6,441.00 point level with 276.790 million shares on Thursday.
However, the market took downward trend on the last trading day of the week due to profit taking opted by the investors and the index lost 100.64 points to close at 6,340.36 points level with 221.522 million shares on Friday. Atif Zafar, an analyst at JS Global Capital, said the volume-led rally was backed by local institutions and high net worth individuals, thanks to positive developments on the political front and strong fundamentals.
He said that E&P sector was among the top performers on account of highly attractive dividend yields and rise in international oil prices. Moreover, commercial banks also performed strongly, boosted by the impressive result announcement of NBP. The E&P and commercial banks market capitalisation were up by 12 percent and 14 percent respectively when compared to total market capitalisation rise of 8.7 percent, which ended the week at Rs 1.914 trillion.
Muniba Saeed at Invest Capital and Securities said that the investors interest remained highly stimulated at the KSE with Thursdays volume of 277 million shares breaking a 48-week high. The week remained highly eventful, starting from the reinstatement of the deposed judges, followed by the cancellation of the much-dreaded long march.
Positive on economic front was also injected as the CA balance of the country registered a surplus after 20 months. On the other hand, Iran gave Pakistan a deadline to accept the gas price from IPI at 80 percent of crude oil or it would be free to commit to other buyers. A wave of concern also arose as Pepco announced 6-8 hours of power outages due to decreased levels in the Tarbela Dam along with Nepras approval to increase power tariff.

Copyright Business Recorder, 2009

Comments

Comments are closed.