Market performance was a mixed bag after yesterday’s T-bill auction inched up yields on all tenders by 0.05-0.13 bps. The KSE-100 index closed at 11,879 with 40 million shares traded, down 0.05 percent from yesterday. The refining sector was actively sold after reports swirled that the planning commission is suggesting the removal the 7.5 percent deemed duty on HSD as local refiners have so far failed to develop a refining capacity as per the standards of EURO II/III for their end products. Foreign Institutional Investors (FIIs) were rumored buyers in fertiliser scrips, while local investors preferred to remain on the sidelines owing to uncertainty on taxation measures in the upcoming budget for FY11-12. The KSE-100 index closed at 11,878.81 with the loss of 5.80 points and total volume stood at 23,576,928 along with the total value of 1,296,154,535. KSE-30 index lost 7.33 points to close at 11,540.74 and All Share index closed at 8,263.47 after losing 2.60 points. A total of 120 scrips advanced, 129 declined and 116 remain unchanged out of total of 365 scrips traded. KSE-100 index’s annual high since Jan 17, 2011 stood at 12,681.94, while the annual low since Jun 14, 2010 was 9,229.60, and the annual average stood as 10,955.91. KSE Market Capitalisation stood at Rs 3,154.28 billion, $36.83 billion, and annual average market capitalisation was Rs 2,998.60 billion. Top gainers in the session were Media Times, Pak Reinsurance, Gharibwal Cement, Siemens Pakistan Engineering, Pakistan National Shipping Corporation, New Jubilee Insurance and Dawood Hercules Chemicals. While top losers included Rafhan Maize Products, NIB Bank Limited, Jahangir Siddiqui Co, Pace (Pak), Packages Limited, Faysal Bank Limited and Security Paper. KSE Futures Volume was 0.97 million shares and KSE Future Value stood at Rs. 119.86 million while KSE Future Spread was 6.85 percent.
