The day saw the benchmark 100-share index decreasing by 10.21 points to 13,293.12 points against 13,303.33 points of Tuesday. Abdul Azeem, an analyst at InvestCap, said that the KSE 100 index was able to climb and sustain above the identified pivot level of 13,223pts, which was as per expectations but closed little negative.
Total numbers of Shares of 387 companies were traded on Wednesday, and at the end of the day total 159 stocks closed higher, total 137 are declined while 91 remained flat. The overall value of shares traded during the day was Rs2.660 billion.
Azeem added that the market again attracted liquidation interest at the high levels. The trading volumes at the ready-counter were recorded higher at 266,068 million shares against 247.813 million shares of the previous day. The trading value decreasing to Rs 4, 593 billion compared to Rs 5.140 billion of the previous session. The intraday high and low, respectively, stood at 13,399.39 and 13, 265.30 points. Market capitalization declined to 3.410 trillion from 3.428 trillion.
The market below 13,135 indicates further selling pressure towards 12,900pts levels. On the flip side market again needs to climb above 13,390pts level to attract buying interest again, viewed Azeem.
KSE All share-index ended the day at 9,305.31 points, down 2.00 points or 0.02 percent, KSE 30-index stopped the day at 11,630.49 points, down 109.94 points or 0.94 percent while the KMI 30-index slumped by 119.13 points or 0.52 percent to end the day at 22, 700.76. Jahangir Siddiqui Company was volume leader of the day, 30.206 million shares and gained Rs 1.38 to close at Rs 18.58, followed by TRG Pakistan, Jahangir Siddiqui Bank Limited and NIB Bank Limited with turnover of 27.394 million, 13.959 million and 10.865 million shares respectively.
The UniLever Food XD and Wyeth Pakistan Limited XD, up Rs 50.00 and Rs 12.24, led highest price gainers while, Rafhan Maize XD and UniLever Pakistan Limited XD, down Rs 138.72 and Rs 116.78 respectively, led the losers.
Bears forestall bull run at the 11th hour
