Karachi stocks market, investors await earning announcement

The bulls kept dominating Karachi stocks market on Tuesday with benchmark, KSE 100-share index gained 57.87 points. The day saw the index closing up by 0.41 percent at 14, 200.79 points against 14, 142.92 points of Monday.
Pakistan stocks higher amid profit taking with thin trade as investor interest held in blue chip stocks ahead of earning announcements due next week, said by Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Tuesday, the trading volumes at the ready-counter were recorded higher at 119.364 million shares against 106.453 million shares of the previous day. The trading value too decreased to Rs 4.566 billion compared to Rs 4.943 billion of the previous session. The intraday high and low, respectively, stood at 14, 247.92 and 14, 117.49 points.
He added that the Expected Pak-US resolution on Nato supply routes as defence committee meets to discuss ties, recovery in global stocks and commodities and expectations for flow-in of foreign portfolio investment on improvement in Pak-US ties played a catalyst role in bullish sentiments.
The market capitalization grew modestly and increased to Rs 3.616 trillion from Rs 3.600 trillion a day earlier. Of the total 347 traded scrips, 147 gained, 114 lost and 86 finished as unchanged.
The free-float KSE-30 index also gained 55.69 points to close at 12, 302.60 points against the previous 12, 246.91 points. D.G.K Cement was the day’s volume leader counting its traded shares at 11.529 million with the opening and closing rates standing at Rs 41.28 and Rs 41.08, followed by Pakistan Telecom (P.T.C.L.A), Jahangir Siddiqui Company Limited, Fauji Cement and Fauji Fertilizer with turnover of 10.965 million, 9.530 million, 7.737 million and 7.442 million shares respectively.
On the future market, the turnover increased by over one million shares to 11.244 million against 10.413 million shares of Monday. The Colgate Palmolive and Clariant Pakistan, up Rs 20.09 and Rs 5.83, led highest price gainers while, UniLever Food and Siemens Pakistan, down Rs 133.31 and Rs 34.10 respectively, led the losers.