KARACHI: The main board stocks of major commercial sectors received fresh funds inflow, mainly through government treasuries, resident participants and local financial groups; resultantly KSE 100 index gained 97 points.
However, various economic, financial and political problems prevalent kept the most prudent speculators reluctant to commit. Short term trading opportunities were capitalized by the more venturesome of investors.
The KSE 100 Index opened in red zone with a loss of 9.05 points and by the end of the day closed at 10389.97 with a gain of 97.64 points. The KSE 30 index closed at 10069.44 with a gain of 130.00 points and the KMI-30 index closed at 16430.50 with a gain of 204.44 points. All shares index closed at 7237.62 with a gain of 64.80 points.
Trading activity was relatively better in comparison to the previous trading session with the ready market volume standing at 81.345mn compared to last trading session’s 51.891mn. Future market volume however stands at 2.729mn shares as compared to 1.555mn shares last trading session.
Market capitalization stands at over Rs. 2.864tr, while total trades rose to 49,535 in contrast to the last trading session’s figure of 36,792. A total 236 companies advanced, 144 declined and 25 remained unchanged.
Highest volumes were witnessed in JSCL at 6.695mn closed at Rs. 9.57 with a gain of Rs. 0.47 followed by LPCL at 6.407mn closed at Rs. 3.02 with a gain of Rs. 0.21, FFBL at 4.827mn closed at Rs. 29.70 with a gain of Rs. 0.50.
The absence of leverage continued to hold over-night positions thereby inviting generating low profits. Adjustment in stocks trading with dividends, mainly those yielding at least double digit growth, maintained the uninterrupted flows of funds.
Hasnain Asghar Ali at Aziz Fida Hussain said “since the funds allocated for the capital markets by corporate and resident participants are likely to sustain a certain level of activity. However profit booking is likely to rise, reflecting the impact of recent flooding and high interest rate scenario in upcoming results.”
