The bulls dominated matters at the Karachi stock market on the first working day of the week with benchmark, KSE 100-share index gained 42.76 points. The day saw the index closing up by 0.32 percent at 13,601.46 points against 13,558.70 points of Friday. The Pakistan stocks closed higher amid thin trades on institutional support in oversold market according to Ahsan Mehanti, Director at Arif Habib Investments Limited.
On Monday, the trading volumes at the ready-counter were recorded lower at 60.206 million shares against 124.437 million shares of the previous day. The trading value too decreased to Rs 1.690 billion compared to Rs 4.019 billion of the previous session. The intraday high and low, respectively, stood at 13,676.49 and 13,551.20 points.
He added that the-concerns over rupee fell and macroeconomic uncertainty affected the activity. Recovery in global commodities on expectations for ease in euro-zone debt crisIs, speculations ahead of year end close played the catalyst’s role in bullish sentiments despite cautious activity pending uncertainty over Pak-US relations.
The market capitalisation increased to Rs 3.471 trillion from Rs 3.468 trillion a day earlier. Of the total 323 traded scrips, 131 gained, 129 lost and 63 remained unchanged. The free-float KSE-30 index also gained 37.69 points to close at 11,746.65 points against the previous 11,708.96 points.
Jahangir Siddiqui Company was the day’s volume leader counting its traded shares at 6.875 million with the opening and closing rates standing at Rs 13.93 and Rs 14.49, followed by Nishat Power Limited, P.T.C.L.A, D.G.K Cement, and Azgard Nine with turnover of 5.091 million, 4.998 million, 3.550 million and 2.968 million shares respectively.
On the future market, the turnover recovered remarkably by over three million shares to 10.772 million against 14.141 million shares of last working day of the week Friday. The Rafhan Maize XD and UniLever Pakistan, up Rs 130.18
and Rs 39.16, led highest price gainers while, UniLever Food and Bata Pakistan Limited, down Rs 110.00 and Rs 14.31 respectively, led the losers.
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