It was time to do some year end portfolio cleaning at the local bourse today as investors looked to primp their numbers on the last trading session of CY11. While KSE-100 index took a symbolic pounding – an all too familiar phenomenon this year – market volumes gained momentum in the second half of the day as they ended up at 62.5 million shares.
NIB continued its streak on top of the volume leader board with fellow penny stock TRG coming in at second place. Despite the volumetric surge, broad spectrum of equities was enveloped in a sea of red as investor outlook for the year ahead remains dismal. With KSE-100 index losing 88 points to end the day at 11,347 points, CY11 ended on a sour note as expected.
While it is customary to wish a “Happy New Year” at this time of the year, from a local investor’s perspective it appears there isn’t a whole lot to be happy about in the upcoming year, said Ali Hussain at HMFS. KSE 100 index closed at 11347.66 levels with the loss of 88.01 points, while KSE 30 index lost 139.13 points to close at 10179.03 levels. All Share index closed at 7856.82 levels after losing 56.14 points. Total 98 scrips advanced 113 declined and 88 remain unchanged out of total 299 scrips traded.
