Slightly better volumes at Karachi Stock Exchange

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Market gained 16 points with slightly better volumes of 72 million shares led by Pakistan Oilfields Limited which jumped 2.7 percent in full year earnings and cash payout. Pakistan Petroleum Limited and Oil and Gas Development Company were reluctant followers, but managed to gain one per cent and 0.5 per cent respectively.
The KSE 100 index closed at 12,576.48 levels with a gain of 16.20 points and the total volume stood at 60,597,761 along with the total value of 3,304,741,384. KSE 30 index gained 102.85 points to close at 11,830.24 levels, and All Share index closed at 8,715.15 levels after gaining 11.84 points. A total 143 scrips advanced 96 declined and 106 remained unchanged out of total 345 scrips traded.
Banks remained slightly subdued in contrast to yesterday’s performance as National Bank of Pakistan managed a gain of 1.3 percent over market rumors of foreign funds buying. Muslim Commercial Bank also edged up one percent as double digit growth in deposits promise to improve sector earnings going forward.
HUBC was also one of the highly traded stocks, gaining 1.2 percent above expectations of better full year earnings and cash payout. KSE Market Capitalization stood at Rs3,308.91 billion, that is $ 38.51 billion, whereas 3.28 millions shares were traded in KSE Future Volume. KSE Future Value was Rs506.88 million and the Future Spread was 8.47 percent. Top gainers of today’s session were Bank Of Punjab Limited, Pak Elektron Ltd., Faysal Bank Limited, Azgard Nine Ltd., Pakistan Oilfields Ltd., Shifa International Hospitals Limited, and Pak.Int.Con.Ter.Ltd. And the top losers included Nestle Pakistan Ltd., Agritech Limited, Pakistan International Airlines Corp., Ibrahim Fibre Limited, Habib Metropolitan Bank Limited, Karachi Electric Supply Company Ltd., and Packages Limited.