KSE index up 32.39 points
Friday, 5 February 2010
KARACHI, Feb 4 (Business Recorder): Late buying in some select stocks at low levels on Wednesday supported the KSE-100 index to close in positive at 9,627.63 points level with a net gain of 32.39 points.
After opening in positive, the investors opted to offload their holdings and the index dropped into negative zone to hit 9,557.88 points intra-day low, down 37.36 points.
Trading remained low due to investors' lack of confidence, and the volume at ready counter declined to 147.696 million shares as compared to 191.775 million shares traded Tuesday. Market capitalisation increased by Rs 8 billion to Rs 2.769 trillion.
Of 379 active scrips, 189 closed in negative and 171 in positive, while the value of 19 scrips remained unchanged. Lafarge Pakistan was the volume leader with 26.451 million shares and gained Re. 0.80 to close at Rs 3.62. Lotte Pakistan lost Re. 0.08 to close at Rs 11.03 with 14.095 million shares. TRG Pakistan inched up by Re. 0.09 to close at Rs 3.31 with 8.709 million shares.
Muhammad Imran, Head of Research at Arif Habib, said that volatile activity was witnessed at the local bourse due to investors' lack of interest. The differences between the coalition partners in Sindh further deepened investors' concerns and they avoided taking fresh positions. Trading was witnessed mainly in the penny stocks, while very thin activity was seen in the main board scrips, he added.
After opening in positive, the investors opted to offload their holdings and the index dropped into negative zone to hit 9,557.88 points intra-day low, down 37.36 points.
Trading remained low due to investors' lack of confidence, and the volume at ready counter declined to 147.696 million shares as compared to 191.775 million shares traded Tuesday. Market capitalisation increased by Rs 8 billion to Rs 2.769 trillion.
Of 379 active scrips, 189 closed in negative and 171 in positive, while the value of 19 scrips remained unchanged. Lafarge Pakistan was the volume leader with 26.451 million shares and gained Re. 0.80 to close at Rs 3.62. Lotte Pakistan lost Re. 0.08 to close at Rs 11.03 with 14.095 million shares. TRG Pakistan inched up by Re. 0.09 to close at Rs 3.31 with 8.709 million shares.
Muhammad Imran, Head of Research at Arif Habib, said that volatile activity was witnessed at the local bourse due to investors' lack of interest. The differences between the coalition partners in Sindh further deepened investors' concerns and they avoided taking fresh positions. Trading was witnessed mainly in the penny stocks, while very thin activity was seen in the main board scrips, he added.