Stagnation and range bound activity invited trading float, while with regional and international commodities and equities signaling nervousness, the market men, ahead of “All Parties Conference” stayed in a cautious mood. Positive outcome of the recent visit of Pakistan’s Trade minister to India, suggesting a likely increase in trade value to $6 billion along with confirmation on India’s support for Pakistan in EU on enhancing and facilitating Pakistan’s exports, did invite renewed activity in the main beneficiaries.
KSE 100 index closed at 11642.46 levels with the gain of 16.77 points, while KSE 30 index lost 5.55 points to close at 11133.90 levels. All Share index closed at 8074.51 after gaining 12.13 points. Total 140 scrips advanced 135 declined and 81 remain unchanged out of total 356 scrips traded. Cement and Textile stocks on renewed corporate support kept the sentiments strong along with pouring in decent turnover, while fertiliser sector mainly due to over heated activity in recent sessions stayed in consolidation phase, thus keeping the benchmark in narrow range. While the mingling and smiling political gathering gave a positive and unified signal, various domestic and geo-political issues will continue to hamper smooth activity at CGT hit local bourse, caution therefore stays the call. Lenient view on CGT, triple digit decline in local interest rates and resolution of circular debt, is needed in order to allow the local equities to find momentum, wherein decline in turnover with improving values has been a constant feature.
