KARACHI (January 21 2009): The Karachi share market witnessed a highly volatile session on Tuesday with the KSE-100 index oscillating between 5,393.47 points high and 5,172.37 points low due to the investors' cautious stance amid the prevailing uncertainty at the market. However, the index closed at 5,258.28 points level, down by 22.47 points.
Volumes at the ready market increased significantly to 142.906 million shares as compared to 75.985 million shares traded a day earlier. Market capitalisation declined by Rs 149 million to Rs 1,677.325 billion. Trading took place in 256 scrips, out of which 130 closed in positive and 114 in negative, while the value of 12 scrips remained unchanged. OGDC was volume leader with 15.787 million shares, losing 47 paisa to close at Rs 46.46.
Hub Power gained Re. 0.19 to close at Rs 15.18 with 11.362 million shares. PTCL increased by Re. 0.53 to close at Rs 13.54 with 10.889 million shares. WorldCall Telecom closed at Rs 3.51 without any change with 10.186 million shares.
Fauji Fertiliser surged by Re. 0.47 to close at Rs 74.54 with 8.069 million shares. NIB Bank gained Re. 0.35 to close at Rs 4.76 with 7.393 million shares. NBP lost Rs 2.87 to close at Rs 54.67 with 4.992 million shares. PIA declined by Re. 0.53 to close at Rs 2.40 with 4.452 million shares.
Mybank gained Re. 0.67 to close at Rs 4.09 with 4.283 million shares. DG Khan Cement increased by Re. 0.34 to close at Rs 15.99 with 3.071 million shares. Attock Petroleum and Millat Tractors were highest gainers and gained Rs 8.42 and Rs 7.44 to close at Rs 176.82 and Rs 156.39 respectively. Wyeth Pak and Rafhan Maize were the worst losers and lost Rs 123.50 and Rs 92.13 to close at Rs 2346.50 and Rs 1750.59 respectively.
Hasnain Asghar Ali at Aziz Fidahusein and Co said that the values buying by the state fund and other private sector institutions triggered technical recovery after initial setback of 110 points, thereby allowing the green numbers to re-emerge. The recovery got support of market whisper that the board of directors of KSE had met the high-ups of SBP, and the authorities had intervened to reduce the fierce selling by banks, selling holdings of their defaulting clients. Although the index failed to sustain in green numbers after initial recovery, unprecedented foreign downpour continued.
Wednesday, January 21, 2009
Tuesday, January 20, 2009
BRIndex30 sheds 135.48 points
KARACHI (January 20 2009): On Monday, the BRIndex30 opened in the red zone and remained there for whole of the trading time, closing at 4,604.97, shedding 135.48 points. It experienced intra-day high of 4,703.98 and low of 4,596.70. The volume was 46,719,900 shares, which was 61.48 percent of KSE All Share and 85.97 percent of KSE-100 index.
The volumes were 75,985,480 and 54,342,960 for KSE All Share and KSE-100 Indices respectively. BR Commercial Banks Index closed at 1,556.23 recording a fall of -59.57 points, or -3.69 percent, and volume of 21,353,000 shares.
BR Technology and Communication Index closed at 483.36 with a net negative change of -14.55 or -2.92 percent. Volume was 13,051,400 shares. BR Oil and Gas Index closed at 990.90 recording a net negative change of -40.16 points or -3.90 percent. The volume was 12,602,800 shares.
BR Cement Index closed at 543.58 with a net negative change of -8.24 or -1.49 percent registering volume of 8,835,100 shares. BR Power Generation and Distribution Index closed at 827.17 with a net negative change of -31.13 or -3.63 percent. Volume was 2,791,200 shares.
The volumes were 75,985,480 and 54,342,960 for KSE All Share and KSE-100 Indices respectively. BR Commercial Banks Index closed at 1,556.23 recording a fall of -59.57 points, or -3.69 percent, and volume of 21,353,000 shares.
BR Technology and Communication Index closed at 483.36 with a net negative change of -14.55 or -2.92 percent. Volume was 13,051,400 shares. BR Oil and Gas Index closed at 990.90 recording a net negative change of -40.16 points or -3.90 percent. The volume was 12,602,800 shares.
BR Cement Index closed at 543.58 with a net negative change of -8.24 or -1.49 percent registering volume of 8,835,100 shares. BR Power Generation and Distribution Index closed at 827.17 with a net negative change of -31.13 or -3.63 percent. Volume was 2,791,200 shares.
KSE dips to 50-month low
KARACHI (January 20 2009): Heavy selling pressure was observed at Karachi share market on Monday and KSE-100 index plunged 231.18 points, or 4.19 percent, to close at 50-month low level of 5,280.75 points. The market opened on a negative note and the index hit 5,264.69 points day's low level. Trading volumes at the ready counter increased to 75.985 million shares as compared to 72.263 million shares traded on last Friday.
Market capitalisation declined by Rs 66 billion to Rs 1.677 trillion. Trading took place in 252 scrips, out of which 184 scrips closed in negative and 60 in positive while the value of eight scrips remained unchanged. Mybank was the volume leader with 7.803 million shares, losing Re. 0.91 to close at Rs 3.42. NIB Bank declined by Re. 0.13 to close at Rs 4.41 with 7.459 million shares. PTCL decreased by Re. 0.99 to close at Rs 13.01 with 7.045 million shares.
OGDC lost Rs 2.47 to close at Rs 46.93 with 6.635 million shares. Zeal Pak closed at Re. 0.48, up by Re. 0.01 with 4.941 million shares. TRG Pakistan gained Re. 0.10 to close at Rs 9.33 with 2.963 million shares. WorldCall Telecom increased by Re. 0.13 to close at Rs 3.51 with 2.896 million shares. Pak PTA surged by Re. 0.11 to close at Rs 2.08 with 2.292 million shares. Bosicor Pakistan closed at Rs 5.79, up by Re. 0.52 with 2.037 million shares. PPL lost Rs 5.17 to close at Rs 126.00 with 1.656 million shares.
Unilever Pakistan and Service Industries were the highest gainers and gained Rs 87.66 and Rs 1.77 to close at Rs 1963.91 and Rs 57.90 respectively. Wyeth Pakistan and Rafhan Maize were the worst losers and lost Rs 130.00 and Rs 96.98 to close at Rs 2470.00 and Rs 1842.72 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Securities said that last week's bears' onslaught continued and desperate exit seekers paid no respect to the valuations, thus keeping the 'loss minimising' on priority. Foreign and local selling (mainly by corporate) never allowed the equities to settle. Cautious accumulation was, however, evident in the main board stocks, mainly the state fund and private sector institutions, thereby allowing the market breather in post-initial hours of trading. Fierce selling pushed the market in further red zone. As soon as the thirst of the accumulators quenched, the float swept the board and almost all the main board stocks witnessed lower locks.
Market capitalisation declined by Rs 66 billion to Rs 1.677 trillion. Trading took place in 252 scrips, out of which 184 scrips closed in negative and 60 in positive while the value of eight scrips remained unchanged. Mybank was the volume leader with 7.803 million shares, losing Re. 0.91 to close at Rs 3.42. NIB Bank declined by Re. 0.13 to close at Rs 4.41 with 7.459 million shares. PTCL decreased by Re. 0.99 to close at Rs 13.01 with 7.045 million shares.
OGDC lost Rs 2.47 to close at Rs 46.93 with 6.635 million shares. Zeal Pak closed at Re. 0.48, up by Re. 0.01 with 4.941 million shares. TRG Pakistan gained Re. 0.10 to close at Rs 9.33 with 2.963 million shares. WorldCall Telecom increased by Re. 0.13 to close at Rs 3.51 with 2.896 million shares. Pak PTA surged by Re. 0.11 to close at Rs 2.08 with 2.292 million shares. Bosicor Pakistan closed at Rs 5.79, up by Re. 0.52 with 2.037 million shares. PPL lost Rs 5.17 to close at Rs 126.00 with 1.656 million shares.
Unilever Pakistan and Service Industries were the highest gainers and gained Rs 87.66 and Rs 1.77 to close at Rs 1963.91 and Rs 57.90 respectively. Wyeth Pakistan and Rafhan Maize were the worst losers and lost Rs 130.00 and Rs 96.98 to close at Rs 2470.00 and Rs 1842.72 respectively.
Hasnain Asghar Ali at Aziz Fidahusein Securities said that last week's bears' onslaught continued and desperate exit seekers paid no respect to the valuations, thus keeping the 'loss minimising' on priority. Foreign and local selling (mainly by corporate) never allowed the equities to settle. Cautious accumulation was, however, evident in the main board stocks, mainly the state fund and private sector institutions, thereby allowing the market breather in post-initial hours of trading. Fierce selling pushed the market in further red zone. As soon as the thirst of the accumulators quenched, the float swept the board and almost all the main board stocks witnessed lower locks.
Monday, January 19, 2009
CFS investment declines by 39 percent
KARACHI (January 19 2009): The total investment under Continuous Funding System (CFS) on the Karachi share market has declined by 39 per cent or Rs 427 million on weekly basis, falling to a meager Rs 668 million on Friday. The voluntary CFS-Mk-II Square up scheme has almost been completed, as remaining investments are not released.
The CFS rate stood at 21.37 per cent on the end of the week, up by 35bps on weekly basis. The top-5 scrips by CFS investment were MCB, Engro, POL, NBP and BAFL, their combined share accounted for 54 percent of total CFS investment.
The CFS rate stood at 21.37 per cent on the end of the week, up by 35bps on weekly basis. The top-5 scrips by CFS investment were MCB, Engro, POL, NBP and BAFL, their combined share accounted for 54 percent of total CFS investment.
KSE index loses 631.88 points
KARACHI (January 19 2009): The Karachi share market failed to maintain last week''s momentum and the benchmark KSE-100 index fell below the psychological level of 6,000 points during the outgoing week mainly due to selling pressure by foreign investors.
The market witnessed lackluster performance and the index lost 631.88 points on week-on-week basis to close at a four-year low level of 5,511.93 points.
The overall market capitalisation declined by Rs 193 billion to Rs 1.743 trillion. The foreign investors remained net sellers and withdrew $12.8 million during the week. The average daily volume at ready market declined by 25.9 per cent to 128.663 million shares as compared to previous week''s average of 173.6 million shares.
The week started with a negative trend on Monday and index lost 102.37 points to close at 6,041.44 point level on the first day of the week with the total volume of 123.007 million shares. The market witnessed a volatile session on Tuesday, however, it managed to close in positive at 6,059.09 points level, up by 17.65 points with 165.311 million shares.
On Wednesday the market witnessed another volatile session and index lost 7.93 points to close at 6,051.16 points with 160.620 million shares. The index fell below 6,000 psychological level to close at 5,778.58 points level with a heavy loss of 272.58 points with 122.114 million shares.
The bearish trend continued on Friday and the index lost another 266.65 points to close at 5,511.93 points level with 72.263 million shares.
Atif Zafar, an analyst at JS Global Capital, said that the index witnessed a lackluster performance during the week and fell below the 5,000 psychological level amid foreign selling. Volume in the ready market suffered over the week as weak sentiments prevailed at the bourse. Selling pressure by foreign investors continued as they bought shares worth only $14 million and sold $26.8 million, resulting in net selling of $12.8 million. The cumulative net selling by the off shore investors for the month has now reached at $62.3 million.
National Investment Trust (NIT) with its State Enterprise Fund has started buying shares at the KSE from Tuesday to provide much needed liquidity to the market.
Romessa Mirza at Invest Capital Securities said that the index showed wide fluctuation throughout the week amid prevailing uncertainty. The average volumes declined to 129 million shares, however, are still a massive 182 per cent higher than the average volume of 46 million shares witnessed in FY09 to date.
The highest volumes were generated in WTL (58 million), PPTA ( 51 million), OGDC (50 million), PTC (26 million), NIB (23 million) and NBP (22 million).
The market witnessed lackluster performance and the index lost 631.88 points on week-on-week basis to close at a four-year low level of 5,511.93 points.
The overall market capitalisation declined by Rs 193 billion to Rs 1.743 trillion. The foreign investors remained net sellers and withdrew $12.8 million during the week. The average daily volume at ready market declined by 25.9 per cent to 128.663 million shares as compared to previous week''s average of 173.6 million shares.
The week started with a negative trend on Monday and index lost 102.37 points to close at 6,041.44 point level on the first day of the week with the total volume of 123.007 million shares. The market witnessed a volatile session on Tuesday, however, it managed to close in positive at 6,059.09 points level, up by 17.65 points with 165.311 million shares.
On Wednesday the market witnessed another volatile session and index lost 7.93 points to close at 6,051.16 points with 160.620 million shares. The index fell below 6,000 psychological level to close at 5,778.58 points level with a heavy loss of 272.58 points with 122.114 million shares.
The bearish trend continued on Friday and the index lost another 266.65 points to close at 5,511.93 points level with 72.263 million shares.
Atif Zafar, an analyst at JS Global Capital, said that the index witnessed a lackluster performance during the week and fell below the 5,000 psychological level amid foreign selling. Volume in the ready market suffered over the week as weak sentiments prevailed at the bourse. Selling pressure by foreign investors continued as they bought shares worth only $14 million and sold $26.8 million, resulting in net selling of $12.8 million. The cumulative net selling by the off shore investors for the month has now reached at $62.3 million.
National Investment Trust (NIT) with its State Enterprise Fund has started buying shares at the KSE from Tuesday to provide much needed liquidity to the market.
Romessa Mirza at Invest Capital Securities said that the index showed wide fluctuation throughout the week amid prevailing uncertainty. The average volumes declined to 129 million shares, however, are still a massive 182 per cent higher than the average volume of 46 million shares witnessed in FY09 to date.
The highest volumes were generated in WTL (58 million), PPTA ( 51 million), OGDC (50 million), PTC (26 million), NIB (23 million) and NBP (22 million).
Sunday, January 18, 2009
Bill for de-mutualisation of stock exchanges finalised: Fouzia
KARACHI (January 18 2009): Chairperson Standing Committee on Finance and Revenue, National Assembly, MNA Mrs Fouzia Wahab has said that the committee has almost finalised legislative bill for de-mutualization of stock exchanges.
Addressing members of Karachi Chamber of Commerce and Industry (KCCI) on Saturday evening, she said that the committee received seven legislative bills for scrutiny and finalisation, out of which two bills have been almost finalised. She said that the bill related to stock exchanges would be tabled in national assembly soon for its consideration and adaptation.
She further said that the role of standing committee has been changed and now it will invite business community and others to help this committee in preparation of budget for the fiscal year, 2009-10.
She said that up till now the budget was prepared by bureaucrats and there was no role of the standing committee in compiling and preparing budget. Mrs Fouzia Wahab said that the standing committee has started consultation process with business community and purpose of her visit is also aimed to get some feedback of problems faced by businesses and industries.
She advised business community to send their budget proposal to the standing committee for its perusal. After scrutinising budget suggestions, the standing committees prepares its report and sends it for finalising budget proposals. Expressing concern on declining textile exports, she said that Pak textile products are much better than many of its competitors in world market.
She assured business community that representatives of trade bodies will be included as commercial attaches posted abroad. She also advised business community to propose workable suggestion for increasing production of power. Replying to a question about interest rates, she said that she understand problems well. Inflation has decreased by about 2 percent in recent past. Interest rates may also go down in near future, she added.
She said that there is no chance of increasing interest rates in future. Commenting on issuance of fresh licenses to trade bodies, under TOO-2007 leader of businessmen group and former President KCCI Siraj Kassam Teli said that he only want that license be granted to those who fulfil required criteria under TOO 2007. If any trade body fulfil TOO 2007 required criteria it should be granted license, he added.
He said that the letter which he had written to President of Pakistan was marked by Ministry of Commerce to Director General, Trade Organisation (DGTO), who has granted licenses to trade bodies. An independent body must examine and give report, he added. Former President KCCI A.Q. Khalil said that a commission should be formed to scrutinise licenses granted under TOO 2007 President KCCI Anjum Nisar said that business community is facing serious problem of high cost of doing business.
Addressing members of Karachi Chamber of Commerce and Industry (KCCI) on Saturday evening, she said that the committee received seven legislative bills for scrutiny and finalisation, out of which two bills have been almost finalised. She said that the bill related to stock exchanges would be tabled in national assembly soon for its consideration and adaptation.
She further said that the role of standing committee has been changed and now it will invite business community and others to help this committee in preparation of budget for the fiscal year, 2009-10.
She said that up till now the budget was prepared by bureaucrats and there was no role of the standing committee in compiling and preparing budget. Mrs Fouzia Wahab said that the standing committee has started consultation process with business community and purpose of her visit is also aimed to get some feedback of problems faced by businesses and industries.
She advised business community to send their budget proposal to the standing committee for its perusal. After scrutinising budget suggestions, the standing committees prepares its report and sends it for finalising budget proposals. Expressing concern on declining textile exports, she said that Pak textile products are much better than many of its competitors in world market.
She assured business community that representatives of trade bodies will be included as commercial attaches posted abroad. She also advised business community to propose workable suggestion for increasing production of power. Replying to a question about interest rates, she said that she understand problems well. Inflation has decreased by about 2 percent in recent past. Interest rates may also go down in near future, she added.
She said that there is no chance of increasing interest rates in future. Commenting on issuance of fresh licenses to trade bodies, under TOO-2007 leader of businessmen group and former President KCCI Siraj Kassam Teli said that he only want that license be granted to those who fulfil required criteria under TOO 2007. If any trade body fulfil TOO 2007 required criteria it should be granted license, he added.
He said that the letter which he had written to President of Pakistan was marked by Ministry of Commerce to Director General, Trade Organisation (DGTO), who has granted licenses to trade bodies. An independent body must examine and give report, he added. Former President KCCI A.Q. Khalil said that a commission should be formed to scrutinise licenses granted under TOO 2007 President KCCI Anjum Nisar said that business community is facing serious problem of high cost of doing business.
Monday, January 12, 2009
Investment under CFS declines
KARACHI (January 12 2009): Investment under Continuous Funding System (CFS) on Karachi share market declined by 16 percent to Rs 1.1 billion during the week ended on January 9, 2009. The average CFS rate remained in the range of 20-22 percent compared to previous week's average rate of 58 percent.
"Recent positive developments on CFS counter with regard to settlement opportunities provided to financiers and financees helped restore confidence for leverage financing to some extent", Muniba Saeed, an analyst at Invest Capital and Securities, said.
Though, CFS Mk-II volumes declined by 18 percent, fresh investment in CFS financing indicated financiers' interest in equity market, which would help in boosting volumes, she added.
The top 5 scrips by CFS investment were OGDC, MCB Bank, Engro, JSCL and NBP, which cumulatively accounted for 60 percent of the total CFS investment.
"Recent positive developments on CFS counter with regard to settlement opportunities provided to financiers and financees helped restore confidence for leverage financing to some extent", Muniba Saeed, an analyst at Invest Capital and Securities, said.
Though, CFS Mk-II volumes declined by 18 percent, fresh investment in CFS financing indicated financiers' interest in equity market, which would help in boosting volumes, she added.
The top 5 scrips by CFS investment were OGDC, MCB Bank, Engro, JSCL and NBP, which cumulatively accounted for 60 percent of the total CFS investment.
Trading picks up on stock market
KARACHI (January 12 2009): The Karachi share market continued its upward momentum during the week ended on January 10, 2009, and KSE-100 index increased by 350.24 points, or 6 percent, and closed at 6,143.81 points.
Healthy buying was witnessed during the three-day week mainly in the blue chip stocks and the average daily volume at the ready counter increased to 173.584 million shares, or 59.3 percent, as compared to previous week's 108.99 million shares.
Market capitalisation increased by Rs 94 billion to Rs 1.936 trillion. Foreign investors were net sellers as they bought shares worth $16.7 million and sold $41.6 million, resulting in net selling of $24.9 million.
On Monday, the market started on a positive note and the index increased by 124.33 points to close at 5,917.90 points level, with a volume of 210.111 million shares.
The positive trend continued on Tuesday and the index gained 156.97 points, with 165.193 million shares. The market remained closed on Wednesday and Thursday due to Muharram holidays.
On Friday, the market witnessed healthy buying and the index hit 6,243.29 points intra-day high, up by 168.42 points, However, profit taking in late hours reduced its gain and the index closed at 6,143.81 points level, with a net gain of 68.94 points with a turnover of 145.449 million shares.
Atif Zafar, an analyst at JS Global Capital, said that the volumes improved in the market as there was more activity in top tier stocks, a thing that not witnessed in the previous weeks where activity was concentrated in low priced scrips.
Healthy buying was witnessed during the three-day week mainly in the blue chip stocks and the average daily volume at the ready counter increased to 173.584 million shares, or 59.3 percent, as compared to previous week's 108.99 million shares.
Market capitalisation increased by Rs 94 billion to Rs 1.936 trillion. Foreign investors were net sellers as they bought shares worth $16.7 million and sold $41.6 million, resulting in net selling of $24.9 million.
On Monday, the market started on a positive note and the index increased by 124.33 points to close at 5,917.90 points level, with a volume of 210.111 million shares.
The positive trend continued on Tuesday and the index gained 156.97 points, with 165.193 million shares. The market remained closed on Wednesday and Thursday due to Muharram holidays.
On Friday, the market witnessed healthy buying and the index hit 6,243.29 points intra-day high, up by 168.42 points, However, profit taking in late hours reduced its gain and the index closed at 6,143.81 points level, with a net gain of 68.94 points with a turnover of 145.449 million shares.
Atif Zafar, an analyst at JS Global Capital, said that the volumes improved in the market as there was more activity in top tier stocks, a thing that not witnessed in the previous weeks where activity was concentrated in low priced scrips.
Saturday, January 10, 2009
KSE index gains 68.94 points
KARACHI (January 10 2009): Karachi share market started in the positive zone and the KSE-100 index hit 6,243.29 points intra-day high level, up by 168.42 points on Friday. However, profit taking in the late hours reduced the intra-day gains and the KSE-100 index finally closed at 6,143.81 points level, with a net gain of 68.94 points.
Trading volume at the ready market was also reduced to 145.449 million shares as compared to 165.193 million shares traded in the previous session. The overall market capitalisation increased by Rs 15 billion to Rs 1,936 trillion. Trading took place in 262 scrips, out of which 171 scrips closed in the negative and 88 in the positive while the value of three stocks remained unchanged.
The E&P giant, OGDC was the overall market volume leader of the day with 11.342 million shares and gained Rs 2.29 to close at Rs 54.02. PTCL lost Re. 0.16 to close at Rs 16.45 with 10.091 million shares. TRG Pakistan declined by Re. 0.31 to close at Rs 2.68 with 7.486 million shares.
Hub Power gained Re. 0.54 to close at Rs 17.88 with 7.428 million shares. WorldCall Telecom lost Re. 0.85 to close at Rs 4.26 with 6.592 million shares. NIB Bank declined by Re. 0.43 to close at Rs 5.92 with 6.436 million shares.
DG Khan Cement lost Rs 1.12 to close at Rs 21.33 with 4.069 million shares. Zeal Pak declined by Re. 0.14 to close at Re. 0.66 with 3.565 million shares. Fauji Fertiliser Bin Qasim gained Re. 0.63 to close at Rs 16.32 with 3.513 million shares. Arif Habib Bank lost Re. 0.88 to close at Rs 6.85 with 3.473 million shares.
Attock Petroleum and Millat Tractors were the highest gainers and gained Rs 7.93 and Rs 7.92 to close at Rs 166.66 and Rs 166.51 respectively while Siemens Pak and Pak Services Limited were the worst losers and lost Rs 48.00 and Rs 17.53 to close at Rs 922.00 and Rs 333.22 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying activity was witnessed as positive sentiment prevailed at KSE due to injection of funds led by Fund Manager NIT and the government institutions. Positive activity with continued as distress selling by banks /brokers and retail investors/institutional funds entered the market in the result announcement sessions, he added.
Trading volume at the ready market was also reduced to 145.449 million shares as compared to 165.193 million shares traded in the previous session. The overall market capitalisation increased by Rs 15 billion to Rs 1,936 trillion. Trading took place in 262 scrips, out of which 171 scrips closed in the negative and 88 in the positive while the value of three stocks remained unchanged.
The E&P giant, OGDC was the overall market volume leader of the day with 11.342 million shares and gained Rs 2.29 to close at Rs 54.02. PTCL lost Re. 0.16 to close at Rs 16.45 with 10.091 million shares. TRG Pakistan declined by Re. 0.31 to close at Rs 2.68 with 7.486 million shares.
Hub Power gained Re. 0.54 to close at Rs 17.88 with 7.428 million shares. WorldCall Telecom lost Re. 0.85 to close at Rs 4.26 with 6.592 million shares. NIB Bank declined by Re. 0.43 to close at Rs 5.92 with 6.436 million shares.
DG Khan Cement lost Rs 1.12 to close at Rs 21.33 with 4.069 million shares. Zeal Pak declined by Re. 0.14 to close at Re. 0.66 with 3.565 million shares. Fauji Fertiliser Bin Qasim gained Re. 0.63 to close at Rs 16.32 with 3.513 million shares. Arif Habib Bank lost Re. 0.88 to close at Rs 6.85 with 3.473 million shares.
Attock Petroleum and Millat Tractors were the highest gainers and gained Rs 7.93 and Rs 7.92 to close at Rs 166.66 and Rs 166.51 respectively while Siemens Pak and Pak Services Limited were the worst losers and lost Rs 48.00 and Rs 17.53 to close at Rs 922.00 and Rs 333.22 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying activity was witnessed as positive sentiment prevailed at KSE due to injection of funds led by Fund Manager NIT and the government institutions. Positive activity with continued as distress selling by banks /brokers and retail investors/institutional funds entered the market in the result announcement sessions, he added.
Friday, January 9, 2009
KSE witnesses another buying spree
KARACHI (January 07 2009): Buying spree continued at the Karachi share market on Tuesday on the back of investors interest to take fresh positions in the oversold market. The benchmark KSE-100 index gained another 156.97 points to close above the 6,000 psychological level at 6,074.87 points. Trading volume at the share market was comparatively thin at 165.193 million shares as compared to 210.111 million shares traded a day earlier.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
Thursday, January 8, 2009
KSE witnesses another buying spree
KARACHI (January 07 2009): Buying spree continued at the Karachi share market on Tuesday on the back of investors interest to take fresh positions in the oversold market. The benchmark KSE-100 index gained another 156.97 points to close above the 6,000 psychological level at 6,074.87 points. Trading volume at the share market was comparatively thin at 165.193 million shares as compared to 210.111 million shares traded a day earlier.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
KSE witnesses another buying spree
KARACHI (January 07 2009): Buying spree continued at the Karachi share market on Tuesday on the back of investors interest to take fresh positions in the oversold market. The benchmark KSE-100 index gained another 156.97 points to close above the 6,000 psychological level at 6,074.87 points. Trading volume at the share market was comparatively thin at 165.193 million shares as compared to 210.111 million shares traded a day earlier.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
KSE witnesses another buying spree
KARACHI (January 07 2009): Buying spree continued at the Karachi share market on Tuesday on the back of investors interest to take fresh positions in the oversold market. The benchmark KSE-100 index gained another 156.97 points to close above the 6,000 psychological level at 6,074.87 points. Trading volume at the share market was comparatively thin at 165.193 million shares as compared to 210.111 million shares traded a day earlier.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
The overall market capitalisation increased by Rs 42 billion to Rs 1.921 trillion. Trading took place in 285 scrips, out of which 147 scrips closed in the positive and 133 in the negative while the value of 5 scrips remained unchanged.
The E&P giant, OGDC was the overall volume leader with 13.525 million shares and gained Rs 2.46 to close at Rs 51.73. TRG Pakistan increased by Re. 0.14 to close at Rs 2.99 with 10.511 million shares. NIB Bank surged by Re. 0.34 to close at Rs 6.35 with 7.990 million shares.
WorldCall Telecom gained Re. 0.88 to close at Rs 5.11 with 7.163 million shares. PTCL increased by Re. 1.00 to close at Rs 16.61 with 6.864 million shares. Zeal Pak surged by Re. 0.09 to close at Re. 0.80 with 6.546 million shares. Pervez Ahmed closed at Rs 6.20, up by Re. 0.99 with 6.213 million shares. PSO also remained active and gained Rs 4.14 to close at Rs 128.12 with 6.059 million shares. UBL increased by Rs 1.77 to close at Rs 37.31 with 5.425 million shares. MCB Bank surged by Rs 5.40 to close at Rs 113.92 with 5.019 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 10.00 and Rs 7.55 to close at Rs 1975.00 and Rs 158.59 respectively while Nestle Pakistan and Siemens Pak were the worst losers and lost Rs 66.67 and Rs 51.00 to close at Rs 1266.83 and Rs 970.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that the buying euphoria continued as fresh investments from institutions, retail investors helped the market to recover its losses. Bullish sentiments prevails as market crossed 6,000 level and the panic selling ended as investors regained confidence due to Rs 20 billion NIT fund to bail out the share market.
Tuesday, January 6, 2009
Traders asked to visit Vietnam to tap business opportunities
RECORDER REPORT KARACHI (January 06 2009): The Ambassador of Vietnam, Nahuyen Quang Thue, has invited Pakistani businessmen and people to visit Vietnam to tap business opportunities and tourism.
Speaking at a workshop on "Vietnam--business and Tourism', organised jointly by Karachi Chamber of Commerce and Industry, (KCCI) and the Trade Mission of Vietnam at KCCI auditorium, he said that after 20 years of reforms, Vietnam successfully mobilised necessary resources and created favourable conditions for developing Vietnam into "wealthy people, strong country with a just, democratic and civilised society".
He said that his country has great opportunities for strong leap to another level of development in the coming year 2010, and turned the country to a basically industrialised economy by the year 2020.
He said that traditional relations of friendship and multifaceted co-operation between Vietnam and Pakistan have been constantly strengthening and expanded to multiple fields, such as policies, economy and close co-ordination and co-operation on regional and international forums. He said that up to now the two countries have signed 9 agreements and MOUs with solid basis for promotion of the multi-faceted co-operation between the two countries. The two sides maintain that mechanism of political consultation and joint commission meeting would promote excellent relations between the two countries, he added.
He said that two-way trade among countries has emerged as one of the most outstanding fields of co-operation, and continues to develop. The import and export in 2008 between the two countries saw an increase of 12 percent, reaching around $150 million.
KCCI President Anjum Nisar said that two-way trade should be expanded due to huge potential market. At present trade between Pakistan and Vietnam is very limited. There is a large potential for export to Vietnam like cement, cotton, and cotton t yarn, auto parts, pharmaceutical products etc.
Four stock members served 'final loss notices': Rs 6.6 billion outstanding CFS shares settled
KARACHI (January 06 2009): The National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that the outstanding CFS shares worth Rs 6.6 billion have been settled under the CFS Mk-II Square-up Scheme, however, four members are still unable to meet their final aggregate demand of around Rs 160 million.
"Consequently, the four members (three from Karachi Stock Exchange and one from Lahore Stock Exchange) have been served final loss notices by NCCPL of one business day to settle their outstanding demand," NCCPL said in a notice issued here.
The NCCPL said that in order to settle the CFS MK-II open position of Rs 9.8 billion a Voluntary CFS MK-II Square-up Scheme was agreed between all the stake holders ie SECP, Mufap, commercial and investment banks and members of the stock exchanges.
The scheme was designed for the orderly squaring up of the CFS MK-II market and the underlying CFS financed securities along with associated margin eligible securities so as to minimise losses to the authorised financiers on their CFS financed positions and minimise the final losses to the financees.
Under the scheme CFS Financed securities and their associated margins were sold at a 12.5 percent discount to the closing price as of December 24, 2008. Accordingly, National Clearing Company of Pakistan Limited (NCCPL) circulated the modus operandi of the said scheme to all CFS MK-II participants on December 26, 2008 wherein it was advised to all concerned to submit their consent, in writing on the prescribed format, to participate in the scheme latest by December 28, 2008.
As many as 90 financees and 65 authorised financiers participated in the scheme along with Government Owned Institutions (GOIs) - National Investment Trust, State Life Insurance Corporation and National Bank of Pakistan.
Authorised financiers opted into the programme had agreed to purchase CFS financed securities of approximately 30 percent of the total value they have financed in the CFS MK-II market. They will purchase only the shares they have financed together with shares deposited as margin against these shares.
GOI had also agreed to purchase an equivalent amount of exactly the same shares ie 50 percent of the total quantity of CFS financed securities equally purchased by GOIs and authorised financiers. Accordingly, Rs 6.6 billion of CFS have been settled under the said scheme. Respective stock exchanges have also participated in the scheme by supporting their respective members by contributing up to Rs 50 million as a loan subject to the completion of necessary formalities.
"Consequently, the four members (three from Karachi Stock Exchange and one from Lahore Stock Exchange) have been served final loss notices by NCCPL of one business day to settle their outstanding demand," NCCPL said in a notice issued here.
The NCCPL said that in order to settle the CFS MK-II open position of Rs 9.8 billion a Voluntary CFS MK-II Square-up Scheme was agreed between all the stake holders ie SECP, Mufap, commercial and investment banks and members of the stock exchanges.
The scheme was designed for the orderly squaring up of the CFS MK-II market and the underlying CFS financed securities along with associated margin eligible securities so as to minimise losses to the authorised financiers on their CFS financed positions and minimise the final losses to the financees.
Under the scheme CFS Financed securities and their associated margins were sold at a 12.5 percent discount to the closing price as of December 24, 2008. Accordingly, National Clearing Company of Pakistan Limited (NCCPL) circulated the modus operandi of the said scheme to all CFS MK-II participants on December 26, 2008 wherein it was advised to all concerned to submit their consent, in writing on the prescribed format, to participate in the scheme latest by December 28, 2008.
As many as 90 financees and 65 authorised financiers participated in the scheme along with Government Owned Institutions (GOIs) - National Investment Trust, State Life Insurance Corporation and National Bank of Pakistan.
Authorised financiers opted into the programme had agreed to purchase CFS financed securities of approximately 30 percent of the total value they have financed in the CFS MK-II market. They will purchase only the shares they have financed together with shares deposited as margin against these shares.
GOI had also agreed to purchase an equivalent amount of exactly the same shares ie 50 percent of the total quantity of CFS financed securities equally purchased by GOIs and authorised financiers. Accordingly, Rs 6.6 billion of CFS have been settled under the said scheme. Respective stock exchanges have also participated in the scheme by supporting their respective members by contributing up to Rs 50 million as a loan subject to the completion of necessary formalities.
Index surges by 124.33 points
KARACHI (January 06 2009): Fresh buying was witnessed at the Karachi share market on Monday and the benchmark KSE-100 index surged by 124.33 points to close at 5,917.90 points level. "Positive sentiment prevailed at the share market on the back of Rs 20 billion fund announced by NIT, which invited fresh buying mainly in blue chip stocks", analysts said.
The trading volume at the ready market stood at 210.111 million shares as compared to 210.762 million shares traded on Friday. The overall market capitalisation increased by Rs 37 billion to Rs 1.879 trillion. Trading took place in 269 scrips, out of which 194 scrips closed in the positive and 75 in the negative.
TRG Pakistan was the overall market volume leader with 16.083 million shares and gained Re. 0.57 to close at Rs 2.85. The E&P giant, OGDC surged by Rs 2.33 to close at Rs 49.27 with 15.281 million shares. NIB Bank increased by Re. 0.71 to close at Rs 6.01 with 12.772 million shares. Zeal Pak gained Re. 0.13 to close at Re. 0.71 with 12.647 million shares.
PTCL increased by Re. 0.10 to close at Rs 15.61 with 8.880 million shares. Hub Power gained Re. 1.00 to close at Rs 16.45 with 7.813 million shares. WorldCall Telecom surged by Re. 0.74 to close at Rs 4.23 with 6.649 million shares. Pak PTA Limited gained Re. 0.14 to close at Rs 2.09 with 6.575 million shares. Pak Start Fund increased by Re. 1.00 to close at Rs 2.78 with 5.577 million shares. MCB was the only scrip in the top ten volume leaders, which closed in the negative at Rs 108.52, down by Rs 5.30 with 6.575 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 85.00 and Rs 7.19 to close at Rs 1965.00 and Rs 151.04 respectively while Rafhan Maize and Siemens Pak were the worst losers and lost Rs 107.46 and Rs 53.00 to close at Rs 2041.78 and Rs 1021.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that intense buying continued as the State Enterprise Fund managed by NIT took charge on bull run at Karachi share market. The liquidity crunch eased and retail investment brought in a four-month high volume.
The trading volume at the ready market stood at 210.111 million shares as compared to 210.762 million shares traded on Friday. The overall market capitalisation increased by Rs 37 billion to Rs 1.879 trillion. Trading took place in 269 scrips, out of which 194 scrips closed in the positive and 75 in the negative.
TRG Pakistan was the overall market volume leader with 16.083 million shares and gained Re. 0.57 to close at Rs 2.85. The E&P giant, OGDC surged by Rs 2.33 to close at Rs 49.27 with 15.281 million shares. NIB Bank increased by Re. 0.71 to close at Rs 6.01 with 12.772 million shares. Zeal Pak gained Re. 0.13 to close at Re. 0.71 with 12.647 million shares.
PTCL increased by Re. 0.10 to close at Rs 15.61 with 8.880 million shares. Hub Power gained Re. 1.00 to close at Rs 16.45 with 7.813 million shares. WorldCall Telecom surged by Re. 0.74 to close at Rs 4.23 with 6.649 million shares. Pak PTA Limited gained Re. 0.14 to close at Rs 2.09 with 6.575 million shares. Pak Start Fund increased by Re. 1.00 to close at Rs 2.78 with 5.577 million shares. MCB was the only scrip in the top ten volume leaders, which closed in the negative at Rs 108.52, down by Rs 5.30 with 6.575 million shares.
Unilever Pak and Millat Tractors were the highest gainers and gained Rs 85.00 and Rs 7.19 to close at Rs 1965.00 and Rs 151.04 respectively while Rafhan Maize and Siemens Pak were the worst losers and lost Rs 107.46 and Rs 53.00 to close at Rs 2041.78 and Rs 1021.00 respectively.
Ahsan Mehanti at Shehzad Chamdia Securities said that intense buying continued as the State Enterprise Fund managed by NIT took charge on bull run at Karachi share market. The liquidity crunch eased and retail investment brought in a four-month high volume.
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