Bears arrive late again to take index down 19pts


The day saw the benchmark 100-share index decreasing by 19.83 points to 13,273.91 points against 13,293.33 points of Wednesday.
Abdul Azeem, an analyst at InvestCap, said that the KSE 100 index was able to climb and sustain above the identified pivot level of 13,270pts, which was as per expectations but closed little negative.
Total numbers of Shares of 370 companies were traded on Thursday, and at the end of the day total 144 stocks closed higher, total 140 are declined while 86 remained flat. The overall value of shares traded during the day was Rs2.259 billion.
Azeem added that the market again attracted liquidation interest at the high levels. The trading volumes at the ready-counter were recorded lower at 225,976 million shares against 266.068 million shares of the previous day. The trading value decreasing to Rs 3, 663 billion compared to Rs 4.593 billion of the previous session. The intraday high and low, respectively, stood at 13,325.30 and 13, 206.72 points. Market capitalization declined to 3.402 trillion from 3.410 trillion. The market below 13,273 indicates further selling pressure towards 13,200pts levels. On the flip side market again needs to climb above 13,270pts level to attract buying interest again, viewed Azeem.
KSE All share-index ended the day at 9,297.40 points, down 7.91 points or 0.09 percent, KSE 30-index stopped the day at 11,581.91 points, decreasing 48.58 points or 0.42 percent while the KMI 30-index slumped by 36.13 points or 0.16 percent to end the day at 22, 664.63. Jahangir Siddiqui Company was volume leader of the day, 23.485 million shares and gained Rs 1 to close at Rs 19.58, followed by Azgard Nine, Bank of Punjab and Jahangir Siddiqui Bank Limited with turnover of 22.225 million, 21.942 million and 12.316 million shares respectively.
The Wyeth Pakistan Limited XD and Service Ind XD, up Rs 26.80 and Rs 9.14, led highest price gainers while, Indus Dyeing and Fazal Textile, down Rs 13.63 and Rs 12.00 respectively, led the losers.-