Stocks fluctuate on KSE
Tuesday, 23 March 2010
KARACHI, Mar 22 (Business Recorder): The stock market witnessed mixed trend during the week ended on March 20, 2010 and KSE-100 index closed at 10,000.93 points, with a loss of 25.06 points.
Trading shrank and average daily volume at ready counter declined to 162.810 million shares, or 9 per cent, as compared to previous week's 182.190 million shares.
Market capitalisation also declined by Rs 21 billion to 2.847 trillion.
Foreign investors' interest continued during the week with an inflow of $25 million. The offshore investors' interest was seen mainly in cement and fertiliser stocks. On the other hand, local investors sold off shares worth $25 million during the week.
On Monday, the market opened on a positive note and the index gained 62.46 points to close at 10,088.45 points with a volume of 227.225 million shares.
On Tuesday, there was selling pressure mainly from local players and the index declined by 70.74 points to close at 10,017.71 points level with 187.483 million shares.
On Wednesday, the index could not sustain the 10,000 points level and closed at 9,989.81 points, losing 27.90 points, with a volume of 170.326 million shares.
On Thursday, the index recovered 18.06 points and closed at 10,007.87 points with 103.205 million shares.
On Friday, the index lost 6.94 points to close the week at 10,000.93 points level with 125.810 million shares.
Saeed Khalid, analyst at Invest Capital and Securities, said that the index moved around the psychological level of 10,000 points, depicting choppy trend during the week. The prominent factor which sustained the market above 10,000 points level was in the form of foreign inflows.
Trading shrank and average daily volume at ready counter declined to 162.810 million shares, or 9 per cent, as compared to previous week's 182.190 million shares.
Market capitalisation also declined by Rs 21 billion to 2.847 trillion.
Foreign investors' interest continued during the week with an inflow of $25 million. The offshore investors' interest was seen mainly in cement and fertiliser stocks. On the other hand, local investors sold off shares worth $25 million during the week.
On Monday, the market opened on a positive note and the index gained 62.46 points to close at 10,088.45 points with a volume of 227.225 million shares.
On Tuesday, there was selling pressure mainly from local players and the index declined by 70.74 points to close at 10,017.71 points level with 187.483 million shares.
On Wednesday, the index could not sustain the 10,000 points level and closed at 9,989.81 points, losing 27.90 points, with a volume of 170.326 million shares.
On Thursday, the index recovered 18.06 points and closed at 10,007.87 points with 103.205 million shares.
On Friday, the index lost 6.94 points to close the week at 10,000.93 points level with 125.810 million shares.
Saeed Khalid, analyst at Invest Capital and Securities, said that the index moved around the psychological level of 10,000 points, depicting choppy trend during the week. The prominent factor which sustained the market above 10,000 points level was in the form of foreign inflows.