KARACHI – The benchmark index continued to oscillate around 11,800 points, as investors’ participation stayed dull. Capitalisation reduced by 0.61 percent, as investors chose to book profits; however volume, with 50 million shares remained dreary. Rising crude oil prices amidst widening energy shortfall dampened investor’s sentiment. In the absence of positive triggers, the KSE-100 index fell by 73 points, closing at 11,796 points with dismal volumes of 51 million shares. Almost all major blue chip stocks remained in the red, with sketchy support from locals.
Meanwhile, PSO finished up 1.1 percent over market talks of foreign funds buying, but failed to impact the market due to poor volumes. Most local institutions remained sidelined, despite expectations of better corporate announcements in the upcoming result season. The KSE-100 index closed at 11796.09 points marked by a loss of 72.68 points, while total volume and total value stood at 27,301,375 and 1,726,727,096 respectively. The KSE-30 index lost 69.63 points and closed at 11510.31 levels, while the All Share index closed at 8277.84 levels following a loss of 47.13 points. Out of 358 scrips, 112 advanced, 161 declined and 85 remained stagnant.
The Fertiliser, along with the oil and gas sector, sustained supply pressure after posting healthy gains, earlier, while banking showed mixed performance. Healthy auto sales for 9MFY11, clocking at an annual 14 percent growth failed to ignite investors’ interest as auto assemblers including INDU and PSMC registered negative close. Albeit sentiments remained wary, better corporate earnings in the upcoming result season which is to start next week may bring better investors’ participation.
Top gainers in today’s session were Gharibwal Cement, Bestway Cement, Pace (Pak), Agritech Limited, Pak Reinsurance, Rafhan Maize Products and Standard Chartered Bank, while top losers included Pak Elektron, Faysal Bank, Pak.Int.Con.Ter, National Refinery, Karachi Electric Supply Company, Bank Al-Falah and Dawood Hercules Chemicals.
