The Karachi share market on Tuesday witnessed a mixed trend with the benchmark KSE-100 index oscillating between 13,707.21 points intra-day high and 13,587.97 points intra-day low levels. The index finally closed at the level of 13,656.04 points with a modest gain of 13.84 points.
The support was seen from the local fronts while the foreign investors remained net sellers of shares and withdrew 1.92 million dollars from the local equity market. Trading volumes at the ready counter stood at 57.989 million shares as compared to 56.825 million shares traded on Monday. Total market capitalisation increased by rupees two billion to Rs 3.484 trillion. Of the total 353 active stocks, 163 closed in negative and 105 in positive while the value of 85 stocks remained unchanged.
DG Khan Cement was the volume leader with 7.225 million shares, however closed slightly low at Rs 39.17, down Re 0.01. In the other cement sector stocks, Fauji Cement and Lucky Cement gained Re 0.15 and Re 0.42 to close at Rs 5.69 and Rs 113.63 with 1.676 million shares and 1.453 million shares respectively. Hub Power Co lost Re 0.03 to close at Rs 41.51 with 3.901 million shares. Pak Reinsurance decreased by Re 0.09 to close at Rs 17.65 with 3.679 million shares.
Bank Al Falah increased by Re 0.29 to close at Rs 17.30 with 3.357 million shares. Jahangir Siddiqui Co declined by Re 0.39 to close at Rs 12.59 with 2.76 million shares. Engro Foods inched up by Re 0.07 to close at Rs 65.18 with 2.531 million shares. Lotte Pakistan PTA lost Re 0.16 to close at Rs 7.1 with 2.476 million shares. Fauji Fertiliser Bin Qasim gained Re 0.25 to close at Rs 40.4 with 1.055 million shares. Unilever Food and Rafhan Maize were the top gainers increasing by Rs 111 and Rs 71.48 to close at Rs 2,825 and Rs 2932.67 respectively, while Exide (Pak) and Sanofi-Aventis Pak were the top losers declining by Rs 9.3 and Rs 7.92 to close at Rs 178.97 and Rs 173.07 respectively.
Samar Iqbal at Topline Securities said that mixed trend was seen at the local bourses. Though volumes remained low some interest was seen in oil stocks like OGDC and PSO. DGKC and Hubco were amongst the volume leaders. The market is waiting for any triggers on the US-Pak relationship and the movement of Pak currency.