KARACHI - In anticipation of monetary easing in tomorrow’s MPS announcement, cement and textile stocks rallied while profit-taking was seen in banking sector. At Karachi stock market benchmark 100-share index posted a fresh gain of 41.35 points or 0.15 percent to end the day at 27124.47 points compared to 27083.12 points of the previous day. Secretary Society of Technical Analyst Pakistan Syed Faran Rizvi said bulls showed their power and able to closed index in green, lackluster activity indicated that investors had concern over upcoming monitory policy. Bounce back after completing 38.2pc retracement of the recent rally indicating bull-run to be continue. KSE-Allshare index grew by 61.68 points or 0.31 percent to end the day at 20195.28 points, KSE-30 index up by 17.11 points or 0.09 percent to conclude the day at 19579.43 points while KMI-30 share index added 195.82 points or 0.43 percent to end the session at 45588.55 points. Local bourse continued rallying after gaining another 1pc during the week where volumes also increased by 8pc to Rs.12b on average. Continuous buying interest from local institutions in blue chip stocks as Pak Rupee strengthened against US-Dollar. Market traded 267.147 million shares after opening at 284.273 million shares and the value of traded shares was minimised to Rs 8.945 billion from Rs 9.207 billion. Capitalisation of the market maintained at Rs 6.551 trillion after opening at Rs 6.536 trillion of a day earlier. Trading took place in 371 companies where gainers outnumbered the losers 197 to 156 while the value of 18 stocks remained intact. Wyeth Pak Ltd SPOT was the top price gainer of the day up by Rs 133.71 to Rs 4500 followed by Island Textile up by Rs 51 to Rs 1076. Nestle Pak and Shezan Inter were the biggest losers of the day decreased by Rs 100 to Rs 8750 and Rs 30.20 to Rs 719.80. Equity dealer Samar Iqbal said renewed interest was also seen in oil stocks where PPL gained 2pc; POL inched up by 1pc. Mid-cap stocks remained in limelight as BOP led the volume with 38m shares followed by TRG with 32.4m shares and KEL with 13m shares. Of 371 active companies, 197 closed in positive and 156 witnessed decline in their share value. Bank of Punjab was the volume leader of the day with 38.39 million shares as it closed at Rs s10.63 after opening at Rs 11.15. TRG Pakistan was on the second position with 32.409 million shares up by Re 0.04 to Rs 15.06. It was followed by K-Electric Limited with 12.977 million shares off by Re 0.31 to Rs 6.53, Askari Bank with 12.379 million shares higher by Re 0.55 to Rs 17.32 and Dewan motors with 11.304 million shares down by Re 0.76 to Rs 7.14.
Posted on: Sat, 15 Mar 2014 05:56:44 +0000
Trending Topics
Recently Viewed Topics
© 2015