KARACHI: The KESC has maintained a heightened level of trading, continuing its winning streak. The main board stocks faced off-loading mainly by the local corporate participants, resultantly KSE 100 index gained 28 points.
The 100 index closed at 10437.58, while all shares index closed at 7294.31 with the gain of 20.86 points. The activity by off-shore participants in the index heavy weight kept the positive numbers alive on the benchmark.
High turnover in below par stocks, top three below par stocks contributed more than 40% to the total turnover, besides expanding the overall volume, especially in short term bets. The decent turnover in textile stocks duly bolstered the morale of the KESC overall despite the instability emerging from the clashes between arms of the state.
The KSE 30 index closed at 10095.74 with the gain of 18.31 points. Total trade volume stood at 52,998 while 190 scrips advanced, 166 declined and 21 remain unchanged out of total 377 scrips. Total volumes stood at 112.609mn.
Highest volumes were witnessed in Lotte Pakistan PTA as 24.193 that closed at Rs 9.65 with the gain of Rs 0.31, and Pace Pak Ltd seconded the list with 13.507 volumes that closed at Rs 3.00 with the gain of Rs 0.26. Nishat Chunian Ltd stood at 7.034 that closed at Rs 19.19 with the gain of Rs 0.92.
With economy under severe pressure, financial issues are becoming further convoluted and tied to external factors, which result in the high interest rate scenario and the upward spiral in inflation.
Thus, investment and decisions require proper screening, especially for those stocks that are likely to be tied to losses sustained in the flood. Companies that remain highly leveraged are seeking further loans, accruing a burden which they can simply not sustain.
Hasnain Asghar Ali at Aziz Fida Hussain said the efficient debt management may prove profitable, with the economic and business environment demanding caution on the part of investors.
