Activity remained lackluster at the local bourse with trading volumes closing at 46 million shares amid fears of continued foreign selling in the market. The index however, gained 92 points (up 0.8 per cent) as selective buying was witnessed in Oil and Gas Development Company, National refinery Limited and Pakistan State Oil.
The KSE 100 index closed at 12,190.37 levels with a gain of 92.32 points and total volume stood at 34,077,028 along with the total value of 2,613,728,267. KSE 30 index gained 57.70 points to close at 11,560.23 levels and Al Share index closed at 8,449.87 levels after gaining 60.29 points. total 127 scrips advanced 96 declined and 102 remained unchanged out of total 325 scrips traded.
Despite the flood surcharge tax FFC was able to post 28 per cent YoY earnings growth, while UBL witnessed 29 per cent YoY growth. With positive results in hand both scrips enjoyed strong gains in today’s session, ending up 1.7 per cent and 0.9 per cent higher, respectively. Profit taking was evident in POL and MCB however, index titan OGDC came in to save the day by contributing 56 points to the day’s gain. Despite the positives in today’s trading session volumes remain shabby (42 million shares) which remain a cause for concern considering the positive results news.
Fauji Fertilizer Company too captured some investor interest post the announcement of its first Half 2011 results and gained Rs1.7 from its last closing. Foreign selling was rumored in Muslim Commercial Bank, Pakistan Oilfields Limited and FFC while profit taking was observed in Pakistan Petroleum Limited in the last hour of the trading session.
KSE Market Capitalization stood at Rs3,220.91 billion, that is $ 37.21 billion. While KSE Future Volume today was 2.84 million shares and KSe future value stood at Rs360.54 million. KSE Future Spread stood at 9.75 per cent.
Top gainers in today’s session were Colgate Palmolive (Pakistan) Ltd., Bata Pakistan Ltd., Pace (Pak) Ltd., Unilever Pakistan, Nestle Pakistan Ltd., Bank Of Punjab Limited, and NIB Bank Limited. While top losers included Nishat Mills Ltd., Clariant Pakistan Limited, Pakistan Tobacco Co. Ltd., Attock Cem.Pak.Ltd., Indus Motor Company Limited, Jahangir Siddiqui Co.Ltd., and Pakistan National Shipping Corporation.