KARACHI – The Karachi stock market witnessed another dull session on Wednesday, with investors preferring to stay on the sidelines amid prevailing law and order situation. But, renewed buying interest was seen in fertilizer sector amid increase in urea off-take for the month, while there was also some interest in POL and OGDC, a dealer observed.
At local equity market, the benchmark KSE 100-share index gained 35.40 points or 0.21 per cent to close the day at 16,927.34 points as compared to 16891.92 points of the last working day (Monday). KSE allshare-index went higher by 25.16 points or 0.21 per cent to finish the day at 11,976.54 points, KSE 30-share index gained 57.66 points or 0.42 per cent to conclude the day at 13779.02 points, while KMI 30-share index gained 94.56 points or 0.33 per cent to close the day at 29,152.99 points.
An analyst said higher global commodities, rising textile exports and ECC approvals on allocation of gas to fertilizer sector affected the sentiments amid hopes for further cut in SBP policy rate after Dec-12 CPI Inflation target stood below 7.5pc. “Strike call and security concerns in the city affected the trading activity at KSE,” he added.
Stock market traded 113.199 million shares after opening at 131.993 million shares and the value of traded shares climbed to Rs 3.022 billion from Rs 2.793 billion. Stock market capitalisation settled at Rs 4.246 trillion compared to Rs 4.237 trillion of the previous session.
Trading took place in 348 companies where losers beat the gainers by 193 to 128 while the values of 27 stocks remained intact. Unilever Pak was the top loser of the day, down by Rs 142.50 to Rs 10007.50, followed by Mithchells Fruit which decreased by Rs 18 to Rs 366. The top gainers were led by Wyeth Pak Limited and Siemens Pakistan, up by Rs 10.24 to Rs 955 and Rs 8 to Rs 770 respectively.
PIAC (A) was the volume leader of the day with 14.901 million shares, up by Re 1 to Rs 3.99. TRG Pakistan was on the second position with 9.980 million shares, marginally down by Re 0.03 to Rs 6.15. It was followed by Maple Leaf Cement with 4.254 million shares, decreased by Re 0.17 to Rs 14.62, Fauji Fert Bin with 4.193 million shares, up by Re 0.19 to Rs 38.69 and Fauji Cement with 3.674 million shares, lost Re 0.03 to Rs 6.37.