Karachi share market saw 13th consecutive bull-run Thursday as the KSE-100 index gained 45.72 points to close again at an all-time-high level of 18,764.55 points against 18,723.35 points Wednesday. Commenting on the market performance, Zafar Moti, senior member KSE and Chairman ZMC Securities told Business Recorder that despite attaining ever-highest level of 18,764 points, the local bourse remained directionless throughout the day.
He said KSE is witnessing bullish sessions for last two weeks and now, according to Moti, investors are in full mood of profit-taking. Samar Iqbal, a technical analyst at Topline Securities commented that another dull session was witnessed at the local bourse with volumes remaining low. The market is looking for any news from political and corporate fronts.
"Interest was seen in Al-Abbas Cement with 12m shares changed hands. Institutional buying was also seen in banking stocks such as MCB, UBL and NBP," she added. On the fourth day of the week, the market capitalisation remained slightly up by Rs 3.02 billion to close at Rs 4.615 trillion from Rs 4.612 trillion. The trading side could not maintain the same level and the turnover closed lower at 125.168 million against 151.465 million shares.
Out of total 345 active scrips, the share prices of 152 companies witnessed positive trend while 167 negative and that of 26 remained unchanged. Bata (Pak) XD and Wyeth Pak Ltd XD were the top gainers with share prices increasing by Rs 83.00 and Rs 56.88 to close at Rs 1773.00 and Rs 1194.58, respectively. Rafhan Maize and Unilever Food XD were the top losers with Rs 215.00 and Rs 58.00 to close at Rs 4085.00 and Rs 5000.00, respectively.
Seven companies of 10 available in "Top Ten" chart made gains while rest witnessed decrease in their prices. Al-Abbas Cement was declared "Volume Leader" and with an increase of 27 paisa, it closed at Rs 6.30 on a turnover of some 12.78 million shares. Engro Corporation gained Re1.74 to close at Rs 142.89 on some 9.08 million shares. Engro Polymer also went up by 9 paisa to close at Rs 12.26 on some 7.76 million shares trading.
Maple Leaf Cement shed 38 paisa to close at Rs 18.85 on some 7.24 million shares. Jahangir Siddiqui Company gained 12 paisa to close at Rs 12.43 on some 6.41 million shares. PIAC (A) closed at Rs 6.45 on some 5.50 million shares. Pak Elektron witnessed increase of 99 paisa to close at Rs 12.04 on some 5.12 million shares. Wateen Telecom showed positive change of 2 paisa to close at Rs 4.40 on some 3.47 million shares. Kohinoor Energy closed decreased by 5 paisa to reach Rs 25.00 on some 2.83 million shares. The last one among the 10 companies was Engro Foods which witnessed lower trend. With a decrease of 52 paisa, it closed at Rs 145.69 on a turnover of some 2.64 million shares.