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KSE witnesses thin activity amid political uncertainty

15 January, 2013

KARACHI: Stocks closed bearish at Karachi Stock Exchange with lower activity amid political uncertainty, with investors awaiting outcome of long march for electoral reforms in the country.

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KARACHI: Stocks closed bearish at Karachi Stock Exchange with lower activity amid political uncertainty, with investors awaiting outcome of long march for electoral reforms in the country.

At local equity market, the benchmark KSE 100-share index shed 1.53 points or 0.01 per cent to close the day at 16,633.18 points as compared to 16634.71 points of the last working day on Friday.  Stock analyst Ahsan Mehanti said institutional support in cement and oil stocks led the index to close above its session lows despite concerns for countrywide protests against law & order situation. Higher global commodities, positive talks with IMF on macro economic assessment, strong valuations and hopes for easing political uncertainty affected the sentiments.  KSE allshare-index added 12.22 points or 0.10 per cent to end the day at 11772.92 points, KSE 30-share index went down by 15.68 points or 0.12 per cent to finish the day at 13582.35 points while KMI 30-share index gained 6.62 points or 0.02 percent to conclude the day at 28732.43 points.

A dealer said investors remained confused about the ongoing political situation in the country. The market, which fell down more than 100 points in the morning session, recovered during the day after city's situation returned to normal. FCCL remained in the limelight due to instructional buying with volume of 31 million shares which stands 36% of total turnover.

Market traded 87.944 million shares after opening at 116.172 million shares and the value of traded shares minimised to Rs 1.688 billion from Rs 3.203 billion. The capitalization of stock market maintained at Rs 4.172 trillion compared to Rs 4.168 trillion of the previous session.

Trading took place in 287 companies where losers outnumbered the gainers by 133 to 124 while the values of 30 stocks remained intact. Nestle Pakistan was the biggest price gainer of the day, up by Rs 175 to Rs 4775, followed by Shezan Inter, increased by Rs 19.30 to Rs 409.30. Downhill trend was led by Bata (Pak) and Attock Petroleum Limited, down by Rs 24 to Rs 1276 and Rs 6.53 to Rs 500.48.

Fauji Cement was the volume leader of the day with 31.315 million shares, up by Re 0.30 to Rs 7.04. TRG Pakistan was on the second position with 11.534 million shares, added Re 0.77 to Rs 5.98. It was followed by Byco Petroleum with 3.880 million shares, shed Re 0.9 to Rs 13.14, JS Co with 3.176 million shares, up by Re 0.13 to Rs 15.11 and Dera Khan Ghazi Cement with 2.703 million shares, higher by Re 0.62 to Rs 53.62.

End.


 
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