KSE index gains 55.17 points
Sunday, 22 November 2009
KARACHI, Nov 21 (Business Recorder): The KSE-100 index Friday witnessed an increase of 55.17 points to close at 9,306.36 points from 9,251.19 points. The market opened on a positive note and remained volatile throughout the day. The index KSE-100 hit 9,381.29 points intra-day high, but closed at 9,306 points.
Due to massive buying by both foreign and local investors, trading was on higher side and the volumes at ready counter surged to 140.32 million shares as compared to 108.204 million shares traded Thursday. Market capitalisation increased by Rs 14.619 billion to Rs 2.686 trillion from Rs 2.671 trillion.
Of 372 active scrips, 193 closed in positive and 161 in negative while the value of 18 scrips remained unchanged. Bank Al-Falah was the volume leader with 33.46 million shares, gaining Re. 0.96 to close at Rs 14.27. PTCL increased by Re. 0.20 to close at Rs 18.22 with 10.476 million shares. Pak PTA lost Re. 0.03 to close at Rs 7.62 with 6.785 million shares. OGDC closed at Rs 110.98, up by Rs 1.64 with 6.416 million shares.
The Pace Pak surged by Re.0.20 to close at Rs 6 with 6.337 million shares. Nishat (Chunian) gained Rs 1 to close at Rs 16.20 with 5.385 million shares. Adamjee Insurance increased by Rs 2.03 to close at Rs 121.65 with 3.85 million shares. Nishat Mills decreased by Re. 0.55 to close at Rs 66.49 with 3.565 million shares. Engro Chemical gained Rs 3.53 to close at Rs 181.29 with 3.558 million shares and Arif Habib lost Re. 0.02 to close at Rs 47.78 with 3.281 million shares.
Siemens Pak Engineering and Pak Engineering were top gainers, gaining Rs 52.48 and Rs 14 respectively to close at Rs 1307.48 and Rs 314.00, while Bata Pak and Wyeth Pak were the worst losers declining by Rs 44 and Rs 21 to close at Rs 981 and Rs 1250 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that clarification regarding depleting gas output from OGDC Qaidirpur gas field did infuse confidence among local participants, while nervousness regarding decline in revenues and payout ratios that have been quite prominent in couple of quarterly announcements persisted.
He said that declining trend in upcoming quarter might reduce the valuations of government companies, who were termed as bonds (safe investments) in previous years. Nevertheless unprecedented inflow from previous sessions, mainly in OGDC, did invite cautious accumulation by local corporate participants in oil and gas exploration and marketing stocks thus allowing benchmark to sustain positivism.
Due to massive buying by both foreign and local investors, trading was on higher side and the volumes at ready counter surged to 140.32 million shares as compared to 108.204 million shares traded Thursday. Market capitalisation increased by Rs 14.619 billion to Rs 2.686 trillion from Rs 2.671 trillion.
Of 372 active scrips, 193 closed in positive and 161 in negative while the value of 18 scrips remained unchanged. Bank Al-Falah was the volume leader with 33.46 million shares, gaining Re. 0.96 to close at Rs 14.27. PTCL increased by Re. 0.20 to close at Rs 18.22 with 10.476 million shares. Pak PTA lost Re. 0.03 to close at Rs 7.62 with 6.785 million shares. OGDC closed at Rs 110.98, up by Rs 1.64 with 6.416 million shares.
The Pace Pak surged by Re.0.20 to close at Rs 6 with 6.337 million shares. Nishat (Chunian) gained Rs 1 to close at Rs 16.20 with 5.385 million shares. Adamjee Insurance increased by Rs 2.03 to close at Rs 121.65 with 3.85 million shares. Nishat Mills decreased by Re. 0.55 to close at Rs 66.49 with 3.565 million shares. Engro Chemical gained Rs 3.53 to close at Rs 181.29 with 3.558 million shares and Arif Habib lost Re. 0.02 to close at Rs 47.78 with 3.281 million shares.
Siemens Pak Engineering and Pak Engineering were top gainers, gaining Rs 52.48 and Rs 14 respectively to close at Rs 1307.48 and Rs 314.00, while Bata Pak and Wyeth Pak were the worst losers declining by Rs 44 and Rs 21 to close at Rs 981 and Rs 1250 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that clarification regarding depleting gas output from OGDC Qaidirpur gas field did infuse confidence among local participants, while nervousness regarding decline in revenues and payout ratios that have been quite prominent in couple of quarterly announcements persisted.
He said that declining trend in upcoming quarter might reduce the valuations of government companies, who were termed as bonds (safe investments) in previous years. Nevertheless unprecedented inflow from previous sessions, mainly in OGDC, did invite cautious accumulation by local corporate participants in oil and gas exploration and marketing stocks thus allowing benchmark to sustain positivism.