Bulls tighten grip
Karachi Stock Exchange Thursday witnessed fourth consecutive bull-run on the back of better corporate results and renewed foreign interest in various scrips. The KSE-100 index gained 320.54 points to close at 26,842 against 26,521 Wednesday. The index touched 26,881 highest and 26,521 lowest levels during the intraday trading. The market capitalisation ended up at Rs 6.471 trillion against Rs 6.402 trillion while the trading side stood at 263.073 million shares from 263.506 million shares.
Copyright Business Recorder, 2014
Commenting on the market performance, analysts said bullish activity sustained at KSE led by stocks across the board following global stocks surge and renewed foreign interest in oil stocks. US plan for $280m military aid, favourable CPI data for Feb''13, easing tensions for Russia and Ukraine crises and resumption of peace talks with TTP through proposals for new committee to deal with militancy also played catalyst role in bullish activity at the local bourse, they added.
Overall, 388 companies were declared active on the readyboard. Some 261 scrips posted gains while 103 lost their worth. Rates of 24 cos stayed unchanged. Two top gainers for the day were Rafhan Maize, which shot up by Rs 145 to Rs 7800 and Wyeth Pakistan, which climbed by Rs 36.20 to Rs 3781.54. The top losers were Unilever Foods, which lost Rs 250 to Rs 9500 and Nestle Pak, which shed Rs 140 to Rs 8850.
Of the Top 10 volume leaders, Maple Leaf Cement led the tally with 25m shares. It witnessed a reduction of 80 paisa to close at Rs 29.80; Lafarge Pak lost 29 paisa to close at Rs 11.41 on 19m shares; and Bank of Punjab fell by nine paisa to close at Rs 10.81 on 11m shares.
Byco Petroleum fell by 25 paisa to close at Rs 10.75 on 10m shares; National Bank gained Rs 2.65 to Rs 52.66 on 9m shares; and DGK Cement lost Rs 1.08 to settle at Rs 92.12 on 8m shares. Bank Al-Falah improved by 11 paisa to close at Rs 28.26 on 7m shares; Fatima Fertilizer rose by 15 paisa to close at Rs 30.15 on 7m shares; PIAC (A) gained 38 paisa to close at Rs 8.43 on 7m shares; and Fauji Cement SPOT closed at Rs 16.88 on 7m shares.