The bulls kept dominating Karachi stocks market on Wednesday with benchmark, KSE 100-share index gained 6.12 points. The day saw the index closing up by 0.04 percent at 14, 380.46 points against 14, 374.34 points of Tuesday.
Pakistan Stocks closed higher amid cautious activity by investors before Supreme Court reaction on NRO judgment implementation due this week. Profit taking witnessed in the corporate earning announcements session at KSE as global markets uncertainty persists, said by Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Wednesday, the trading volumes at the ready-counter were recorded lower at 80.603 million shares against 82.530 million shares of the previous day. The trading value too decreased to Rs 2.372 billion compared to Rs 3.782 billion of the previous session. The intraday high and low, respectively, stood at 14, 405.33 and 14, 333.37 points.
He added that the institutional support witnessed in blue chip stocks on improvement in Pak-US relations and speculations ahead of SECP chairman visit to KSE. The market capitalization grew modestly and increased to Rs 3.663 trillion from Rs 3.660 trillion a day earlier. Of the total 375 traded scrips, 132 gained, 121 lost and 122 finished as unchanged.
The free-float KSE-30 index lost 12.50 points to close at 12, 486.84 points against the previous 12, 499.34 points. D.G.K Cement was the day’s volume leader counting its traded shares at 8.827 million with the opening and closing rates standing at Rs 43.60 and Rs 42.94, followed by Jahangir Siddiqui Company Limited, Engro Foods Limited, Jahangir Siddiqui Growth Fund and Azgard Nine with turnover of 7.545 million, 6.799 million, 5.193 million and 4.885 million shares respectively.
On the future market, the turnover decreased by over two million shares to 5.782 million against 7.315 million shares of Tuesday. The Colgate Palmolive and Rafhan Maize Prod, up Rs 47.65 and Rs 33.00, led highest price gainers while, Nestle Pakistan Limited and Island Textile, down Rs 54.65 and Rs 11.27 respectively, led the losers.
At daggers drawn, again
