KSE 100-share index loses 47 points
Sunday, 16 August 2009
KARACHI, Aug 15 : The Karachi stock market witnessed selling activities Thursday as the rise in yield on T-bills by 34 basis points indicated limited possibility of a significant discount rate cut in the monetary policy due on August 15, according to Daily Times.
The Karachi Stock Exchange (KSE) 100-share index decreased by 47.15 points or 0.59 per cent to close at 8,011.31 points as against the previous session's 8,058.46 points. The KSE 30-share index closed at 8,527.61 points with a loss of 59.87 points. The KMI 30 index closed at 11,957.41 points with a decline of 146.18 points.
Analysts said the market opened on a positive note but during later part of the trading session it failed to maintain its buoyant mood closing in the negative zone.
The market turnover went down by 20.04 per cent and traded 174.39 million shares as compared to previous session's 218.10 million shares. The overall market capitalisation was down by 0.54 per cent to close at Rs 2.361 trillion as compared with Rs 2.374 trillion. Out of total 403 companies, 159 closed in the positive zone, 222 in negative, while 22 remained unchanged.
"Correction phase was witnessed at the market, although the 100-share index stayed positive for most part of the trading session due to low volume surge in illiquid stocks," said analyst at Aziz Fida Husein and Co Hasnain Asghar Ali. "Underlying tone stayed mixed to negative, which initiated due to suspense regarding the 'magic number' to be announced in the upcoming monetary policy as a very few initially dared to accumulate main board stocks even at adjusted levels ahead of long week-end."
The news that circular debt issue is likely to be resolved most likely over the weekend failed to get an immediate impact. Seasoned participants accumulated the likely beneficiaries but low quantum activity failed to have an impact.
The local participants awaited the big result of OGDC before taking fresh positions, while cement and textile stocks witnessed massive change of hands.
Deep red numbers aggravated the selling trend as below expectation announcements have been quite prominent and the low volume price erosion in the index heavy weights disallowed the 100-share index to find support around psychological of 8,000 points.
The KSE 100-share index opened in the green zone with a gain of 19.41 points and at the end of the day closed at 8,011.31 points with a decline of 47.15 points.
LAHORE: The Lahore Stock Exchange (LSE) ended on a bearish note Thursday. The LSE 25-share index finished at 2,418.43, losing 31.13 points as against Wednesday's level of 2,449.46 points.
The volume of the market remained at 14.34 million shares, which was 1.77 million shares less than Wednesday's turnover of 16.11 million shares. Service Industries Limited was the major gainer, as it added Rs 5.24 to close at Rs. 109.94 from its opening at Rs 104.70.
Al-Ghazi Tractors Limited ended at second place adding Rs 5.03 to close at 195.00 after opening at Rs 189.97. Pakistan Oil Fields Limited was among the major loser as it lost Rs 4.20 to close at 176.62 as compared to its opening at Rs 180.82. Jubilee Insurance Company also declined by Rs 2.81, as it opened at Rs 102.78 and closed at Rs 99.97. DG Khan Cement Company was among the volume leaders with 3.41 million shares.
It fell Rs 1.94 to close at Rs 37.22 as compared with its opening at Rs 39.16. Maple Leaf Cement Company with 1.27 million shares was at second place. It decreased by 18 paisas to close at Rs 4.92 as against its opening at Rs 5.10.
ISLAMABAD: The Islamabad stock market closed in the negative territory on Thursday as the ISE 10-share index dropped by 30.34 points to close at 1,896.66 points from its previous level of 1,927 points. Of the total 151 participant companies, 66 climbed upward and 85 turned negative.
However, total turnover increased to 1.176 million shares as against 1.030 million shares at the opening of the day, showing a total increase of 0.146 million shares. Unilever Pakistan was the top gainer as its share value shot up by Rs 31 to close at Rs 2,102 after opening at Rs 2,070.
Treet Corporation was the second major gainer as its share value increased by Rs 27.85 to close at Rs 584.85 as compared to its opening at Rs 557. Millat Tractor was the major loser of the day as its share price declined by Rs 5.86 to close at Rs 303 as compared with its previous level of Rs 308.83.
The Karachi Stock Exchange (KSE) 100-share index decreased by 47.15 points or 0.59 per cent to close at 8,011.31 points as against the previous session's 8,058.46 points. The KSE 30-share index closed at 8,527.61 points with a loss of 59.87 points. The KMI 30 index closed at 11,957.41 points with a decline of 146.18 points.
Analysts said the market opened on a positive note but during later part of the trading session it failed to maintain its buoyant mood closing in the negative zone.
The market turnover went down by 20.04 per cent and traded 174.39 million shares as compared to previous session's 218.10 million shares. The overall market capitalisation was down by 0.54 per cent to close at Rs 2.361 trillion as compared with Rs 2.374 trillion. Out of total 403 companies, 159 closed in the positive zone, 222 in negative, while 22 remained unchanged.
"Correction phase was witnessed at the market, although the 100-share index stayed positive for most part of the trading session due to low volume surge in illiquid stocks," said analyst at Aziz Fida Husein and Co Hasnain Asghar Ali. "Underlying tone stayed mixed to negative, which initiated due to suspense regarding the 'magic number' to be announced in the upcoming monetary policy as a very few initially dared to accumulate main board stocks even at adjusted levels ahead of long week-end."
The news that circular debt issue is likely to be resolved most likely over the weekend failed to get an immediate impact. Seasoned participants accumulated the likely beneficiaries but low quantum activity failed to have an impact.
The local participants awaited the big result of OGDC before taking fresh positions, while cement and textile stocks witnessed massive change of hands.
Deep red numbers aggravated the selling trend as below expectation announcements have been quite prominent and the low volume price erosion in the index heavy weights disallowed the 100-share index to find support around psychological of 8,000 points.
The KSE 100-share index opened in the green zone with a gain of 19.41 points and at the end of the day closed at 8,011.31 points with a decline of 47.15 points.
LAHORE: The Lahore Stock Exchange (LSE) ended on a bearish note Thursday. The LSE 25-share index finished at 2,418.43, losing 31.13 points as against Wednesday's level of 2,449.46 points.
The volume of the market remained at 14.34 million shares, which was 1.77 million shares less than Wednesday's turnover of 16.11 million shares. Service Industries Limited was the major gainer, as it added Rs 5.24 to close at Rs. 109.94 from its opening at Rs 104.70.
Al-Ghazi Tractors Limited ended at second place adding Rs 5.03 to close at 195.00 after opening at Rs 189.97. Pakistan Oil Fields Limited was among the major loser as it lost Rs 4.20 to close at 176.62 as compared to its opening at Rs 180.82. Jubilee Insurance Company also declined by Rs 2.81, as it opened at Rs 102.78 and closed at Rs 99.97. DG Khan Cement Company was among the volume leaders with 3.41 million shares.
It fell Rs 1.94 to close at Rs 37.22 as compared with its opening at Rs 39.16. Maple Leaf Cement Company with 1.27 million shares was at second place. It decreased by 18 paisas to close at Rs 4.92 as against its opening at Rs 5.10.
ISLAMABAD: The Islamabad stock market closed in the negative territory on Thursday as the ISE 10-share index dropped by 30.34 points to close at 1,896.66 points from its previous level of 1,927 points. Of the total 151 participant companies, 66 climbed upward and 85 turned negative.
However, total turnover increased to 1.176 million shares as against 1.030 million shares at the opening of the day, showing a total increase of 0.146 million shares. Unilever Pakistan was the top gainer as its share value shot up by Rs 31 to close at Rs 2,102 after opening at Rs 2,070.
Treet Corporation was the second major gainer as its share value increased by Rs 27.85 to close at Rs 584.85 as compared to its opening at Rs 557. Millat Tractor was the major loser of the day as its share price declined by Rs 5.86 to close at Rs 303 as compared with its previous level of Rs 308.83.