KARACHI
Stocks closed flat amid concerns for political crisis. Delays in release of IMF $550m tranche on political standoff and below expected payouts in oil sector and falling banking spreads impacted the sentiments, experts observed here on Thursday.
The KSE benchmark 100 share index up by 8.75 points or 0.03 percent to close the day at 29604.30 points compared to 29595.55 points of the previous day.
Samar Iqbal AVP at Topline Securities said after rising over 1,100 points in last two trading sessions, market remained ranged bound today. EFERT witnessed above average volume of 30 million shares amid institutional interest while LUCK kept on rising while some profit-taking was seen in OGDC, PSO and PPL, she added.
KSE-Allshare index shed 2.83 points or 0.01 percent to end the trading at 21768.80 points, KSE-30 index misplace by 12.62 points or 0.06 percent to finish the session at 20531.76 points while KMI-30 index increased by 92 points or 0.19 percent to stop the trading at 48615.94 points.
Trading took place in 393 companies where 219 companies closed in green and 156 in negative while the value of 18 stocks remained intact. Rafhan MaizeXD and Pak Tobacco were the biggest price losers of the day decreased by Rs 200 to Rs 10500 and Rs 50 to 1150. Wyeth Pak Ltd and Colgate Palm SPOT were the top price gainers of the day up by 104.13 to Rs 3808.08 and Rs 78.75 to Rs 1653.75.
An analyst said late session support in selected oil, cement and fertilizer stocks played a catalyst role in positive close at KSE as investor counted on positive impact of GIDC removal, refunds and rising global fertilizer prices.
The day turnover of market was 223.173 million shares compared to 200.269 million shares of a day earlier and the value of traded shares was climbed to Rs 11.971 billion from Rs 11.046 billion. The capitalisation of the market maintained at Rs 6.959 trillion after opening at Rs 6.964 trillion.
Active list was topped by Engro Fertilizer Ltd with 29.888 million shares up by Rs 1.39 to Rs 54.89. Pak Elektron was the second highest on volume chart with 18.794 million shares higher by Rs 1.06 to Rs 33.67. It was followed by K-Electric Ltd with 18.557 million shares added Re 0.11 to Rs 8.30, Maple Leaf Cement with 15.716 million shares up by Re 0.32 to Rs 29.31 and Samba Bank with 8.690 million shares grew by Re 0.71 to Rs 8.13.
APP from Islamabad: Islamabad Stock Exchange (ISE) on Thursday witnessed bullish trend as the ISE 10-index was up by 4652.64 points to close at 4645.66 points.
A total of 272,500 shares were traded, which showed a negative growth of 223,700 shares, when compared with previous day’s trading of 48,800 shares. Out of 141 companies, share prices of 83 companies recorded increase while those of 58 companies decreased and no company remained stable in Thuursday’s trading.
The share price of ICI Pakistan increased by Rs 13.43 while that of Pakistan Tabacco decreased by Rs 50.00 per share. Lafrage Pakistan Cement,Bank of Punjab and PICIC Growth Fund remained the top trading companies with 150,000, 45,500 and 40,000 shares respectively.