The KSE witnessed a massive decrease in participants largely due to the unstable political environment in the country these days. Worsening relations with the US has also discouraged investors at the local equity.
The KSE 100 index closed at 12,267.33 with the gain of 4.81 points, and total volume stood at 22,872,303 along with the total value of 1,143,101,026. KSE 30 index lost 29.58 points to close at 11,679.68 levels and All Share index closed at 8513.34 levels with the gain of 1.63 points. A total of 60 scrips advanced 108 declined and 80 remained unchanged out of the total 248 scrips traded.
High priced stocks struggled to sustain the attained levels and are likely to stay under pressure. Equity specific funds are likely to be placed in stocks offering consistent dividend yields. “Caution is advised as staying on the track of growth would have low impact cost and free float,” said Hasnain Asghar Ali at Aziz Fida Husein. He added that the recent Mumbai attacks might adversely affect the market. Nestlé’s support disallowed wider market reflection on the benchmark, but accumulation in stocks of Fauji group allowed the turnover to keep ticking. Sell-off in high priced stocks kept the leading stocks in the red zone. Anxiety increased towards the closing hour of the session that was cut short due to absence of buyers. However, the benchmark managed to close in the neutral zone.
