Karachi Sock Exchange Friday witnessed a smart recovery as the benchmark 100-index gained 304 points to close at 25,783 points against 25,478 points Thursday. During the intraday trading, the main index touched 25,880 highest and 25,477 lowest levels. Friday, dealers said.
INTERBANK MARKET RATES: The rupee picked up seven-paisa versus the dollar for buying at Rs 104.88, while it gained 10-paisa for selling at Rs 104.90, they said.
OPEN MARKET RATES: The rupee firmly held its present levels against the dollar for buying and selling at Rs 105.30 and Rs 105.50 respectively, while it picked up 45-paisa in terms of the euro for buying and selling at Rs 144.25 and Rs 144.50, they said. In the final The market capitalisation ended up at Rs 6.279 trillion against Rs 6.231 trillion. The trading side also witnessed healthy volumes and settled at 234.880 million shares from 165.085 million shares. Commenting on the market performance, analysts said Pakistan stocks closed bullish after record earning announcement and interim payout by Pakistan State Oil. Renewed foreign interest, rising FX reserves, easing concerns for political uncertainty and expectations for favourable CPI data for Feb'14 played a catalyst role in strong recovery of select oversold stocks across the board at KSE, they added.
They said that foreign inflow in last two days also helped boost the sentiment. PSO, MLCF and BIPL closed at their upper limits while oil stocks and cements also rallied.
Overall, 369 companies were declared active on the readyboard. Some 172 scrips posted gains while 185 lost their worth. Only 12 cos stayed unchanged. Two top gainers for the day were Pak Tobacco, which shot up by Rs 38.14 to Rs 801.07 and Murree Brewery, which climbed by Rs 32.33 to Rs 678.94. The top losers were Nestle Pak, which shed Rs 338 to Rs 9287 and Wyeth Pak, which lost Rs 202.92 to Rs 4149.95.
Of the Top 10 volume leaders, Jahangir Siddiqui Company led the tally with 18m shares. It witnessed a reduction of 94 paisa to close at Rs 10.17; TRG Pakistan gained 25 paisa to close at Rs 14.45 on 17m shares; and Bank of Punjab (R) fell by three paisa to close at -24 paisa on 15m shares. Maple Leaf Cement climbed by Rs 1.9 to close at Rs 29.19 on 14m shares; Dewan Cement gained 41 paisa to Rs 8.71 on 11m shares; and Fauji Cement bagged 50 paisa to settle at Rs 16.30 on 10m shares.
Lafarge Pak shed 15 paisa to close at Rs 11.20 on 8m shares; Engro Fertilizer lost 51 paisa to close at Rs 59.63 on 7m shares; Engro Corporation witnessed a jump of Rs 3.76 to close at Rs 188.75 on 7m shares; and Bank Al-Falah lost 17 paisa to close at Rs 27.83 on 7m shares.
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