Benchmark index remains dull, drab and dry

LAHORE - Thursday was the fourth consecutive day for Karachi Stock Exchange (KSE) when trading remained dull, drab and dry. For the whole business session, market remained lacklustre with little trading activity while benchmark KSE 100-Index remained unchanged at 9,182.88 points. Turnover of shares further dipped down to 111,100 shares as compared to 178,440 shares on Wednesday. Only 13 scrips traded in the bourse in which three opened in advance column whereas two companies dipped down while rest of the eight companies remained unchanged. The LSE-25 closed with a slight change at 2823.61 points losing 1.75 points while ISE-10 closed at 1634.12 points. Gharibwal Cement which was traded Wednesday with very thin volume of 2,500 remained at the top volumewise on Thursday with 37,000 shares and gained Re 0.39 closed at Rs 17.39. Followed by Sitara Energy whose scrip also gained Re 1.00 closed at Rs 19.50 with volume of 19,500 shares. However, Ist Fid Leasing which was remained atop Wednesday business came third on Thursday but shed Re Re 0.21 closed at Rs 4.18 with a volume of 15,500 shares. Sui Northern Gas, Shell Pakistan and Thal Limited remained unchanged closed at Rs 27.91, Rs 310.31 and Rs 90.64 with volumes of 14,200, 7,900 and 5,000 shares respectively. However, Kohinoor opened in minus column which shed Re 1.00 closed at Rs 15.86 with a volume of 4,000. Shifa Int'l Hospital remained unchanged closed at Rs 20.05 with a volume of 3,500 shares. However, Regent Textile opened in plus column and gained Re 1.30 closed at Rs 27.30 with volume of 2,000 shares. Bosicor Pakistan remained unchanged closed at Rs 8.70 with volume of 1,000 while Southern Electric, H.M. Ismael and Gatron Industries also remained unchanged closed at Rs 3.60, Rs 1.69 and Rs 44.10 respectively with volumes of 500 shares each. Brokers and experts are of the opinion that unless crises like short of liquidity, removal of floor mechanism and significant purchase from financial institutions combined with other government measures to support the markets, benchmark KSE-100 index would remained dull, drab and dry for the coming days. Meanwhile, the KSE-30 index also remained unchanged and closed at at 10,003.99 points and KMI-30 index also with no change closed at 11224.18 points. ISE closed at 1,634.12 points. While, LSE shedding 1.75 points, LSE-25 index closed at 2823.61 points. Total turn over however witnessed upward trend as it remained 13,500 increasing 2,000 shares compared to Wednesday trade in which only one company gain and two scrips went to minus column while nine companies remained unchanged while 71 scrips remained equal. PPFL scrip was the volume leader whose 10,000 shares were traded but remained unchanged closed at Rs 6.06 followed by Zelp with volume of 1,500 remained unchanged closed at Rs 1.16. While Sepco and PCCL shed their values of Re 0.02 and Re 0.65 closed at Rs 3.58 and Rs 4.25 with volumes of 1,000 and 500 respectively. However SEL gained Re 1.00.

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