KSE stages smart recovery
Karachi Stock Exchange (KSE) Friday staged smart recovery and the benchmark 100 index gained 120.43 points to close at 20,537.03 against 20,416.60 points Thursday. The local bourse opened in green zone and closed on positive note. The index touched highest level of 20,620.06 during the intra-day trading.
Copyright Business Recorder, 2013
Commenting on the market performance, Zafar Moti, a senior member KSE and Chairman ZMC Securities told Business Recorder that after a correction, local bourse again witnessed bull-run but volumes could not post big increase. He said that institutional and foreign fund buying continued at the share market and correction is a routine process. It may surface next week but the market may continue its positive trend.
Market capitalisation followed suit and stood at Rs 4.989 trillion, up by Rs 22.31 billion against Rs 4.966 trillion. The trading side also witnessed higher trend. Volume at the ready counter stood at 372.302 million against previous 323.878 million shares. Out of total 381 active scrips, 242 went up, 113 went down and that of 26 remained unchanged. Rafhan Maize XD and Bata (Pak) were the top gainers with share prices increasing by Rs 222.40 and Rs 84.50 to close at Rs 4670.40 and Rs 1825.00, respectively.
Colgate Palmolive and Fazal Cloth Mills were the top losers with share prices decreasing by Rs 100.00 and Rs 5.41 to close at Rs 1900.00 and Rs 102.94, respectively. All the companies available in "Top Ten" chart witnessed growth in their share prices and no company lost its worth. Bank of Punjab (R) succeeded to gain the position of "Volume Leader." With an increase of 25 paisa, it closed at Rs 1.75 on a turnover of 48.871 million shares.
Fauji Cement gained 26 paisa to close at Rs 10.73 on some 31.319 million shares. Lafarge Pak XD went up by 75 paisa to close at Rs 7.08 on 23.18 million shares. Dewan Cement bagged 57 paisa to close at Rs 6.06 on some 18.67 million shares. Maple Leaf Cement also closed on positive note. It gained Re1 to close at Rs 20.35 on some 18.046 million shares. DGK Cement moved up by Rs 1.60 to close at Rs 75.47 on 9.152 million shares.
Nimir Ind Chemicals gained 38 paisa to close at Rs 4.50 on a turnover of 8.854 million shares. Pervez Ahmed gained 31 paisa to close at Rs 3.56 on some 8.541 million shares. Jahangir Siddiqui Company went up by 20 paisa to close at Rs 12.36 on 8.216 million shares. The last one among the Top Ten was Nishat (Chunian) which saw an increase of Rs 1.54 to close at Rs 50.19 on 8.193 million shares.