Uncertainty hits KSE index
Sunday, 28 March 2010
KARACHI, Mar 27 (Business Recorder): The Karachi share market on Friday witnessed mixed trend with the KSE-100 index oscillating between 10,178.96 points intra-day high and 10,109.43 points low due to investors' concerns over the uncertainty on political front.
Late buying in some select stocks, however, supported the index to close in positive at 10,137.93 points level with a gain of 10.90 points.
Trading improved significantly and the volume at ready counter increased to 211.332 million shares as compared to 156.699 million shares traded Thursday. Market capitalisation increased by Rs 8 billion to Rs 2.879 trillion.
Of 379 active scrips, 219 closed in positive and 143 in negative, while the value of 17 scrips remained unchanged.
Lotte Pakistan was the volume leader with 35.696 million shares and gained Re 0.39 to close at Rs 11.31. Lafarge Pakistan increased by Re 0.35 to close at Rs 5.26 with 25.270 million shares.
DG Khan Cement, Maple Leaf Cement, Fauji Cement, Dewan Cement and Lucky Cement surged by Rs 1.47, Re 1.00, Re 0.53, Re 0.45 and Rs 1.16 to close at Rs 32.38, Rs 5.00, Rs 6.89, Rs 3.55 and Rs 81.07 with 14.815 million shares, 12.903 million shares, 6.011 million shares, 5.715 million shares and 5.408 million shares respectively.
Jahangir Siddiqui Co gained Re 0.23 to close at Rs 22.99 with 11.606 million shares. PTCL lost Re 0.25 to close at Rs 20.99 with 6.586 million shares. Azgard Nine declined by Re 0.34 to close at Rs 15.68 with 6.233 million shares.
Unilever Pakistan and Service Industries were the highest gainers and increased by Rs 151.25 and Rs 16.00 to close at Rs 3176.25 and Rs 344.01 respectively, while Lakson Tobacco and MCB Bank were the worst losers and declined by Rs 9.82 and Rs 4.72 to close at Rs 205.18 and Rs 209.38 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that the mixed to negative opening amid low volumes continued to keep the index under pressure, as the float from local corridors continued to pour in. Although low volume strength did allow the index an intra-day high wherein index found support from OGDC, turnover was poured in by cement stocks.
"Sell on strength" strategy, however, continued mainly in the expensive stocks, thereby disallowing the index to sustain early highs. However, select banking stocks and almost entire cement sector stocks witnessed healthy trading activity with gains intact.
Late buying in some select stocks, however, supported the index to close in positive at 10,137.93 points level with a gain of 10.90 points.
Trading improved significantly and the volume at ready counter increased to 211.332 million shares as compared to 156.699 million shares traded Thursday. Market capitalisation increased by Rs 8 billion to Rs 2.879 trillion.
Of 379 active scrips, 219 closed in positive and 143 in negative, while the value of 17 scrips remained unchanged.
Lotte Pakistan was the volume leader with 35.696 million shares and gained Re 0.39 to close at Rs 11.31. Lafarge Pakistan increased by Re 0.35 to close at Rs 5.26 with 25.270 million shares.
DG Khan Cement, Maple Leaf Cement, Fauji Cement, Dewan Cement and Lucky Cement surged by Rs 1.47, Re 1.00, Re 0.53, Re 0.45 and Rs 1.16 to close at Rs 32.38, Rs 5.00, Rs 6.89, Rs 3.55 and Rs 81.07 with 14.815 million shares, 12.903 million shares, 6.011 million shares, 5.715 million shares and 5.408 million shares respectively.
Jahangir Siddiqui Co gained Re 0.23 to close at Rs 22.99 with 11.606 million shares. PTCL lost Re 0.25 to close at Rs 20.99 with 6.586 million shares. Azgard Nine declined by Re 0.34 to close at Rs 15.68 with 6.233 million shares.
Unilever Pakistan and Service Industries were the highest gainers and increased by Rs 151.25 and Rs 16.00 to close at Rs 3176.25 and Rs 344.01 respectively, while Lakson Tobacco and MCB Bank were the worst losers and declined by Rs 9.82 and Rs 4.72 to close at Rs 205.18 and Rs 209.38 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said that the mixed to negative opening amid low volumes continued to keep the index under pressure, as the float from local corridors continued to pour in. Although low volume strength did allow the index an intra-day high wherein index found support from OGDC, turnover was poured in by cement stocks.
"Sell on strength" strategy, however, continued mainly in the expensive stocks, thereby disallowing the index to sustain early highs. However, select banking stocks and almost entire cement sector stocks witnessed healthy trading activity with gains intact.