|Saturday, 28 July 2012 14:43|
KARACHI - At local equity bearish spell continued on last working day of trading week. Due to selling in PTC and OGDC market came down slightly with low volumes due to shorter trading hours.
At local equity market benchmark KSE- 100 share index decreased by 26.88 points or 0.18 percent to finish the day’s trading at 14,526.41 points as compared to 14,553.29 points of the previous session. Dealers said investors booked profit in PTC after the news of VSS that may affect its short term earnings.
Cement stocks like DGKC and MLCF remained in the limelight as investors expect better June quarter result. KSE-Allshare index misplaced 14.19 points or 0.14 percent to close the day at 10,222.70 points, KSE-30 share index shed by 11.04 points or 0.09 percent to finish the day at 12,581.70 points while KMI-30 share index dropped by 5.16 points or 0.02 percent to settled at 24,983.36 points. Stocks closed lower amid thin trade on investor concerns for uncertain macroeconomic situation, security concerns regarding Nato supply routes and limited foreign interest ahead of release of pending US Coalition Support Funds, analyst observed.
Volume in term of shares increased to 58.339 million shares from 81.467 million shares and the value of traded shares was shrunk to Rs 2.111 billion as compared to Rs 2.960 billion of a day earlier. Market capitalisation minimised to Rs 3.708 trillion from Rs 3.714 trillion. In all, 239 stocks came up for trading on Friday with 121 losers; 98 gainers and 20 maintaining old values. Rafhan Maize Product and UniLever Pak were the highest price gainers of the day up by Rs 176.40 to Rs 3,710.00 and Rs 35.00 to Rs 7,360.00.
Downhill trend were led by Unilever Food and Shahtaj Sugar Mills down by Rs 40.00 to Rs 2850.00 and Rs 3.28 to Rs 79.12. The volume leader list showed PTCLA at first place with 7.288 million shares down Re 0.51 to Rs 14.26. Dera Ghazi Khan Cement was on the second position with 6.811 million shares gained Re 0.43 to close at Rs 45.90. It was followed by JS.Co with 5.888 million shares off by Re 0.18 to close at Rs 16.04, Maple Leaf Cement with 3.203 million shares higher by Re 0.49 to finish at Rs 6.25 and Engro Foods Limited with 2.399 million shares increased by Re 0.94 to end at Rs 69.50.
Experts said with Ramazan starting volumes dropped to 53pc to 56 million shares on average while index remained ranged bound to close at 14,526, down 38 points from last week. Major developments of the week were delay in Supreme Court verdicts on important cases that forced investors to remain on the sidelines. FFC above expectation June end result also failed to boost sentiments.
Courtesy: The Nation