KSE index sheds 60.22 points
Friday, 20 November 2009
KARACHI, Nov 19 (Business Recorder): The KSE-100 index Wednesday lost 60.22 points to close at 9,144.76 points level due to selling mainly by local investors on their concerns, analysts said. The market opened on a positive note and the index hit 9,328.14 points intra-day high, up 123.16 points.
However, this momentum could not continue and the index dropped into negative zone to reach 9,137.32 points, down by 67.66 points. Trading shrank to 161.934 million shares as compared to 184.030 million shares traded Tuesday. Market capitalisation declined by Rs 17 billion to Rs 2.640 trillion. Of 392 active scrips, 235 closed in negative and 139 in positive while the value of 18 scrips remained unchanged.
Pak PTA was the volume leader with 25.666 million shares and gained Re. 0.08 to close at Rs 7.66. PTCL lost Re. 0.49 to close at Rs 17.83 with 15.365 million shares. Nishat Mills increased by Rs 1.60 to close at Rs 66.46 with 13.844 million shares. OGDC surged by Rs 1.02 to close at Rs 107.10 with 12.404 million shares. Fauji Fertiliser Bin Qasim declined by Re. 0.87 to close at Rs 25.17 with 10.054 million shares. Jahangir Siddiqui Co lost Rs 1.29 to close at Rs 29.22 with 8.583 million shares.
NBP declined by Rs 3.52 to close at Rs 73.32 with 6.324 million shares while BoP increased by Re. 0.18 to close at Rs 14.85 with 4.190 million shares. Arif Habib Sec lost Rs 1.74 to close at Rs 47.03 with 5.987 million shares. Hub Power gained Re. 0.78 to close at Rs 30.51 with 3.899 million shares.
Unilever Food and Lakson Tobacco were the highest gainers and gained Rs 34.50 and Rs 15.19 to close at Rs 1364.00 and Rs 319.01 respectively, while Unilever Pakistan and Siemens Pak were the worst losers and declined by Rs 86.06 and Rs 38.03 to close at Rs 2313.94 and Rs 1260.01 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that after a positive opening, selling activity was witnessed at the share market mainly by local investors. The investors remained concerned on high leverage cost, delay in implementation of margin financing products, pending NRO issue and closure of cement plants on lower cement prices in the country.
The limited expectation of significant cut in discount rate and rising circular debt between oil marketing and refineries played a catalyst role in negative activity at KSE, he added.
However, this momentum could not continue and the index dropped into negative zone to reach 9,137.32 points, down by 67.66 points. Trading shrank to 161.934 million shares as compared to 184.030 million shares traded Tuesday. Market capitalisation declined by Rs 17 billion to Rs 2.640 trillion. Of 392 active scrips, 235 closed in negative and 139 in positive while the value of 18 scrips remained unchanged.
Pak PTA was the volume leader with 25.666 million shares and gained Re. 0.08 to close at Rs 7.66. PTCL lost Re. 0.49 to close at Rs 17.83 with 15.365 million shares. Nishat Mills increased by Rs 1.60 to close at Rs 66.46 with 13.844 million shares. OGDC surged by Rs 1.02 to close at Rs 107.10 with 12.404 million shares. Fauji Fertiliser Bin Qasim declined by Re. 0.87 to close at Rs 25.17 with 10.054 million shares. Jahangir Siddiqui Co lost Rs 1.29 to close at Rs 29.22 with 8.583 million shares.
NBP declined by Rs 3.52 to close at Rs 73.32 with 6.324 million shares while BoP increased by Re. 0.18 to close at Rs 14.85 with 4.190 million shares. Arif Habib Sec lost Rs 1.74 to close at Rs 47.03 with 5.987 million shares. Hub Power gained Re. 0.78 to close at Rs 30.51 with 3.899 million shares.
Unilever Food and Lakson Tobacco were the highest gainers and gained Rs 34.50 and Rs 15.19 to close at Rs 1364.00 and Rs 319.01 respectively, while Unilever Pakistan and Siemens Pak were the worst losers and declined by Rs 86.06 and Rs 38.03 to close at Rs 2313.94 and Rs 1260.01 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that after a positive opening, selling activity was witnessed at the share market mainly by local investors. The investors remained concerned on high leverage cost, delay in implementation of margin financing products, pending NRO issue and closure of cement plants on lower cement prices in the country.
The limited expectation of significant cut in discount rate and rising circular debt between oil marketing and refineries played a catalyst role in negative activity at KSE, he added.