karachi

Uphill trend continued at Karachi stock market on second day of trading week, with the KSE 100-share index gaining another 21.80 points or 0.07 per cent to close the day at 31303.63 points as compared to 31281.83 points of the previous day.

Speculations for expected cut in SBP key policy rate, recovery in global stocks, upbeat data on auto & cement sales for Oct ‘14 and positive sentiments following IMF approval on release of $1.1b played a catalyst role in bullish activity at KSE amid concerns for rising circular debt in energy sector, an analyst observed here.

KSE-allshare grew by 61.78 points or 0.27 per cent to end the day at 23099.48 points, KSE-30 went up by 12.20 points or 0.06 per cent to close the day at 20567.60 points while KMI-30 misplaced by 31 points or 0.06 percent to conclude the session at 50187.98 points.

Trading took place in 419 companies where losers outnumbered the gainers by 212 to 186 while the values of 21 stocks remained intact. Unilever Food SPOT was the highest price gainer of the day, increased by Rs 447 to Rs 9397, followed by Colgate Palmolive, up by Rs 84.21 to Rs 1768.41. Rafhan Maize and Bata (Pak)XD were the top price losers of the day, decreased by Rs 375 to Rs 10825 and Rs 112.44 to Rs 3145.  

Renowned equity expert Yasin lakhani said that the government announced smooth supply of gas for power and fertilizer sectors during winter which brought positive impact in the market.

The day turnover of market was 222.735 million shares as compared to 330.164 million shares of a day earlier and the value of traded shares declined to Rs 13.212 billion from Rs 16.099 billion. The capitalization of the market maintained at Rs 7.284 trillion after opening at Rs 7.265 trillion.

Active list was topped by Bank Al-Habib with 10.511 million shares as it closed at Rs 49.78 after opening at Rs 49.75. PTCL was the second highest on volume chart with 8.790 million shares, added Re 0.25 to Rs 21.16. It was followed by JS.Co with 8.774 million shares, shed Re 0.24 to Rs 12.23, P.I.A.C(A) with 8.500 million shares, increased by Re 0.04 to Rs 6.32 and JS Bank Ltd with 8.004 million shares, higher by Re 0.55 to Rs 6.55.