The trading band clearly suggests a lack of investor participation. Rumours of CGT thrown out, but the windfall gain of 200 plus points provided some hope to investors. Today’s volumes were well below the average year to date volumes of 80 million shares.
KSE 100 index closed at 11306.10 with a gain of 37.55 points, while total volume stood at 27,645,652 along with the total value of 1,688,021,685. KSE 30 index closed at 10360.69 levels to gain 52.60 points and All Share index closed at 7824.42 levels after gaining 27.21 points. Total 119 scrips advanced 72 declined and 98 remain unchanged out of total 289 scrips traded.
The index heavy oil sector was largely tilted towards the negative territory with OGDC losing a rupee followed by PSO and POL. The Rs100 per bag hike in urea prices pushed fertiliser stocks upwards with Engro benefiting the most. Engro appreciated about Rs4.60 but is still trading below the Rs100 psychological barrier. Stocks with index weight and low free float including Ulever and Nestle price appreciated and provided positive support to the index. With merely six trading days left before the year end, we are not expecting any miracles which may change the investor behaviour, said Bilal Asif at HMFS.
