KSE obtains mixed posture

A mixed trend was witnessed on the Karachi share market on Thursday with the KSE-100 index oscillating between 12,000.83 points intra-day high and 11,907.31 points intra-day low level. The index closed at 11,929.78 points, fractionally down by 0.77 points due to selling by local investors at fag end. The foreign investors, however, remained net buyers of shares worth $1.08 million.
Trading activity slightly improved as the volumes at ready counter increased to 107.722 million shares as compared to 93.437 million shares traded on Wednesday. Total market capitalisation increased by Rs 3 billion to Rs 3.1 trillion. Of the total 318 active scrips, 123 closed in negative, 113 in positive while the value of 82 stocks remained unchanged.
Jahangir Siddiqui Co was the volume leader with 21.378 million shares gaining Re 0.29 to close at Rs 6.77. In the fertiliser sector, Engro Corp and Fatima Fertiliser Co increased by Rs 5.43 and Re 0.53 to close at Rs 122.07 and Rs 22.48 with 8.210 million shares and 6.373 million shares, respectively. Fauji Fertiliser Co and Fauji Fertiliser Bin Qasim declined by Rs 3.46 and Re 0.37 to close at Rs 184.68 and Rs 46.50 with 4.360 million shares and 4.004 million shares, respectively.
Azgard Nine inched up by Re 0.12 to close at Rs 3.92 with 5.921 million shares. DG Khan Cement gained Re 0.08 to close at Rs 23.43 with 5.741 million shares. NBP lost Re 0.11 to close at Rs 43.52 with 3.468 million shares. Nishat Mills surged by Rs 1.87 to close at Rs 47.46 with 3.234 million shares. Arif Habib Corp increased by Re 0.37 to close at Rs 28.39 with 2.608 million shares.
MCB Bank and Engro Corp were the top gainers increasing by Rs 5.80 and Rs 5.43 to close at Rs 180.34 and Rs 122.07, respectively while Siemens Pak and Nestle Pakistan were the worst losers declining by Rs 43.22 and Rs 16.33 to close at Rs 821.78 and Rs 3283.67, respectively.
Hasnain Asghar Ali at Aziz Fidahusein Co said aggressive activity in wider stocks, that even allowed the index to test psychological 12,000, during the initial hours, duly backed by decent turnover, painted a positive picture. Activities however turned cautious in the post decision session. During the early hours, various frontline stocks witnessed sector and stock swapping, with Engro being the star performer backed by aggressive buying from the local corridors, besides leading turnover and gains, predictable movement provided ample trading opportunities for intra-day activity, he added.
He said the sector and stock swapping led to gains in some while loses in others, some faced post results sell-off mainly in POL, while some surrendered to the technical calls for adjustment, mid-tier and low priced stocks continued to invite volumetric activity mainly on announcement sensation, while news of concession accepted by the EU on duty free import of various categories of textile products allowed the likely beneficiaries to traded with improved values and turnover.