The Karachi share market on Friday witnessed a mixed trend with the benchmark KSE-100 index oscillating between 14,790.36 points intra-day high and 14,718.96 points intra-day low levels. The index finally closed at the level of 14,761.49 pointed, marginally up by only 1.90 points.
Despite profit taking by local investors in some selective stocks, the foreign investors'' interest continued and they remained net buyers of shares worth dollars 1.17 million. Trading activities remained extremely low as the volumes at ready counter declined to 37.629 million shares as compared to 75.362 million shares traded on Thursday. Total market capitalisation increased by one billion rupees to Rs 3.767 trillion. Of the total 241 active stocks, 118 closed in positive and 106 in negative while the value of 17 stocks remained unchanged.
Quice (R) was the volume leader with 3.43 million shares however lost Re 0.92 to close at Rs 3.01. Maple Leaf Cement gained Re 0.16 to close at Rs 7.54 with 3.16 million shares. KESC closed at the previous day''s closing level of Rs 4.27 with 2.735 million shares. Quice Food increased by Re 0.81 to close at Rs 12.98 with 2.319 million shares. Jahangir Siddiqui Co closed at Rs 14.99, down Re 0.12 with 1.576 million shares.
In the fertiliser sector, Fatima Fertiliser Co and Engro Corporation declined by Re 0.30 and Re 0.16 to close at Rs 23.76 and Rs 91.98 with 1.383 million shares and 1.165 million shares respectively. PTCL lost Re 0.29 to close at Rs 13.55 with 1.232 million shares. Treet Corporation (ROL) inched up by Re 0.14 to close at Rs 2.84 with 1.166 million shares. PSO surged by Rs 4.45 to close at Rs 254.76 with 1.157 million shares.
Nestle Pakistan and Exide (Pak) were the top gainers increasing by Rs 109.99 and Rs 11.71 to close at Rs 4199.99 and Rs 246.08 respectively, while Colgate Palmolive and Bata (Pak) were the top losers declining by Rs 24.07 and Rs 19 to close at Rs 1313.43 and Rs 716 respectively.
Ahsan Mehanti at Arif Habib Corporation said the mixed activity was seen at the local bourse. The index finally closed slightly up on the back of fresh buying in late hours. The strong earnings outlook announcement by PSO supported the index to close in positive amid cautious activity ahead of SBP policy announcement.
He said that concerns for Supreme Court notice to PM on NRO verdict, uncertainty in global stocks and commodities affected the sentiments despite strong earnings outlook for banking and oil sector. The approval of Petroleum Policy 2012 by CCI, higher exploration targets set for PPL and hopes for rate cut in key policy rate played a catalyst role in positive close in the earning announcement session at KSE despite profit taking in some selective stocks, he added.
Comments
Comments are closed.