KSE gains 50 points on investors' optimism
Sunday, 9 August 2009
KARACHI, Aug 8: Bulls regained control of the Karachi stock market on the last trading day of the week Friday as investors remained optimistic over the International Monetary Fund (IMF) and Pakistan's officials meeting to discuss economic assistance of Pakistan and release of the third tranche for economic support, according to Daily Times.
The Karachi Stock Exchange (KSE) 100-share index surged 49.91 points or 0.64 per cent to close at 7,872.23 points as compared to the previous session's 7,822.32 points. The KSE 30-share index closed at 8,343.20 points with a gain of 52.44 points. The KMI 30 index closed at 11,874.75 with an increase of 70.61 points.
Analysts said that investor confidence increased and they remained active in the ring as their expectations were high regarding the meeting between IMF and Pakistan's officials.
The market turnover went up by 4.82 per cent and traded 139.43 million shares as against previous session's 133.01 million shares. The overall market capitalisation was up by 0.69 per cent to close at Rs 2.323 trillion as compared with Rs 2.307 trillion. Out of total 357 companies, 230 closed in the positive zone, 102 in negative while 25 remained unchanged.
"Rise in international oil prices near to $76 in London trade, rebound in rupee's fall and continuing foreign interest in the market were the main reasons for the bullish trend," said senior analyst at Shahzad Chamdia Sec Ahsan Mehanti.
The KSE 100-share index opened in the green zone with a gain of 15.85 points and at the end of the day closed at 7,872.23 points with an increase of 49.91 points. "Net buying by foreigners stood at $0.5 million, which is far lower than previous week's net buying of $19.1 million," said analyst at Topline Sec Mohammad Sohail.
Analysts said small investors are counting on the major ones to take positions so that they could take a cue from them. Small investors have suffered a lot lately and they appear to be stuck up as they bought shares on considerably high prices and now the share prices are quite low as compared to a couple of months ago. The cautiousness of investors will take some time to ease, they added.
GDK Cement was the volume leader in the share market with 16.19 million shares as it closed at Rs 38.89 after opening at Rs 37.44, making a financial gain of Rs 1.45. Jah Sidd and Co 13.53 traded 13.53 million shares as it closed at Rs 24.98 from its opening at Rs 25.29, losing 31 paisas.
Arif Habib Sec traded 10.44 million shares as it closed at Rs 30.47 as against its opening at Rs 29.72, surging 75 paisas. Pak PTA Ltd SPOT traded 8.53 million shares as it closed at Rs 3.20 as compared with its opening at Rs 3.17, increasing by three paisas.
LAHORE: The Lahore Stock Exchange (LSE) closed in the positive zone on Friday. The LSE 25-share index finished at 2,359.84 points, gaining 12.84 points as against the previous close of 2,347.00 points.
The volume of the market remained at 10.79 million shares, which was almost 1.5 million shares more than Thursday's turnover of 12.27 million shares. Shell Pakistan was the major gainer as it added Rs 4.50 to close at Rs 240.50 as against its opening at Rs 236.00.
PSO gained Rs 4.48 to close at 257.86 from its opening at Rs 253.38. Atlas Battery was among the major loser as it lost Rs 7.16 to close at 136.50 as compared with its opening at Rs 143.66. Pakistan Refinery also lost Rs 6.54, as it opened at Rs 146.67 and closed at Rs 140.13.
Khan Cement Co was among the volume leaders with 2.58 million shares. It surgedf Rs 1.46 to close at Rs 38.90 as compared to its opening at Rs 37.44. Arif Habib Securities with 1.21 million shares was at second place. It lost Rs 1.36 to close at Rs 30.53 as against its opening at Rs 29.71.
ISLAMABAD: The Islamabad stock market closed higher on Friday as the ISE 10-share index was up by 12.79 points to close at 1,850.83 points from its previous level of 1,837.83 points.
Of the total 119 participant companies, 89 climbed upward and 30 turned negative. However, total turnover decreased to 0.853 million shares from 0.876 million shares at the opening of the day, showing a total decrease of 0.221 million shares. Treet Corporation was the top gainer as its share value shot up by Rs 20 to close at Rs 480 after opening at Rs 460.
The Karachi Stock Exchange (KSE) 100-share index surged 49.91 points or 0.64 per cent to close at 7,872.23 points as compared to the previous session's 7,822.32 points. The KSE 30-share index closed at 8,343.20 points with a gain of 52.44 points. The KMI 30 index closed at 11,874.75 with an increase of 70.61 points.
Analysts said that investor confidence increased and they remained active in the ring as their expectations were high regarding the meeting between IMF and Pakistan's officials.
The market turnover went up by 4.82 per cent and traded 139.43 million shares as against previous session's 133.01 million shares. The overall market capitalisation was up by 0.69 per cent to close at Rs 2.323 trillion as compared with Rs 2.307 trillion. Out of total 357 companies, 230 closed in the positive zone, 102 in negative while 25 remained unchanged.
"Rise in international oil prices near to $76 in London trade, rebound in rupee's fall and continuing foreign interest in the market were the main reasons for the bullish trend," said senior analyst at Shahzad Chamdia Sec Ahsan Mehanti.
The KSE 100-share index opened in the green zone with a gain of 15.85 points and at the end of the day closed at 7,872.23 points with an increase of 49.91 points. "Net buying by foreigners stood at $0.5 million, which is far lower than previous week's net buying of $19.1 million," said analyst at Topline Sec Mohammad Sohail.
Analysts said small investors are counting on the major ones to take positions so that they could take a cue from them. Small investors have suffered a lot lately and they appear to be stuck up as they bought shares on considerably high prices and now the share prices are quite low as compared to a couple of months ago. The cautiousness of investors will take some time to ease, they added.
GDK Cement was the volume leader in the share market with 16.19 million shares as it closed at Rs 38.89 after opening at Rs 37.44, making a financial gain of Rs 1.45. Jah Sidd and Co 13.53 traded 13.53 million shares as it closed at Rs 24.98 from its opening at Rs 25.29, losing 31 paisas.
Arif Habib Sec traded 10.44 million shares as it closed at Rs 30.47 as against its opening at Rs 29.72, surging 75 paisas. Pak PTA Ltd SPOT traded 8.53 million shares as it closed at Rs 3.20 as compared with its opening at Rs 3.17, increasing by three paisas.
LAHORE: The Lahore Stock Exchange (LSE) closed in the positive zone on Friday. The LSE 25-share index finished at 2,359.84 points, gaining 12.84 points as against the previous close of 2,347.00 points.
The volume of the market remained at 10.79 million shares, which was almost 1.5 million shares more than Thursday's turnover of 12.27 million shares. Shell Pakistan was the major gainer as it added Rs 4.50 to close at Rs 240.50 as against its opening at Rs 236.00.
PSO gained Rs 4.48 to close at 257.86 from its opening at Rs 253.38. Atlas Battery was among the major loser as it lost Rs 7.16 to close at 136.50 as compared with its opening at Rs 143.66. Pakistan Refinery also lost Rs 6.54, as it opened at Rs 146.67 and closed at Rs 140.13.
Khan Cement Co was among the volume leaders with 2.58 million shares. It surgedf Rs 1.46 to close at Rs 38.90 as compared to its opening at Rs 37.44. Arif Habib Securities with 1.21 million shares was at second place. It lost Rs 1.36 to close at Rs 30.53 as against its opening at Rs 29.71.
ISLAMABAD: The Islamabad stock market closed higher on Friday as the ISE 10-share index was up by 12.79 points to close at 1,850.83 points from its previous level of 1,837.83 points.
Of the total 119 participant companies, 89 climbed upward and 30 turned negative. However, total turnover decreased to 0.853 million shares from 0.876 million shares at the opening of the day, showing a total decrease of 0.221 million shares. Treet Corporation was the top gainer as its share value shot up by Rs 20 to close at Rs 480 after opening at Rs 460.