RECORDER REPORT
KARACHI: Despite tension in the city following calls for protest rallies by religious parties against Pindi violence, investors took keen interest in buying and the share market witnessed a bull-run Friday. The KSE-100 Index gained 63.39 points to close at 23,847.57.
However, the trading side remained dull and the volume at the ready counter stood lower at 123.507 million shares from 144.347 million shares. However, the market capitalisation saw a healthy trend and stood at Rs5.680 trillion against Rs5.645 trillion.
Commenting on the market performance, Samar Iqbal, an analyst at Topline Securities said amid protests in the capital, the market remained rangebound with 40 percent decline in volumes which fell to Rs6bn. Renewed interest was seen in Engro Corp and PSO.
She said successful book building of Engro fertilizer which was oversubscribed by 4 times, kept Engro Corporation in the limelight. PSO gained Rs.6.00 on the back of expected hike in OMCs margin with 3.5mn shares changed hands. FCCL remained the top volume leader with 15mn shares followed by PTC 8mn shares and JSCL 5.9mn shares, she added.
Out of total 324 active stocks, 190 went up, 120 went down and that of 14 remained unchanged.
Two top achievers for the day were Unilever Foods XD, which climbed by Rs377.33 to Rs7943 and Nestle Pak XD, which shot up by Rs359.75 to Rs8109.75. The top losers were Wyeth Pak, which shed Rs50 to Rs4500 and Phillip Morris, which lost Rs16.90 to Rs323.10.
Of the top 10 volume leaders, Fauji Cement XD led the tally with 14m shares to close at Rs13.01; PTCLA gained five paisa to close at Rs30.10 on 8m shares; and Jahangir Siddiqui Company moved up by six paisa to close at Rs8.90 on 5m shares.
KESC gained nine paisa to close at Rs5.60 on 5m shares; Engro Corporation witnessed an addition of 97 paisa to close at Rs144.50 on 5m shares; and Lafarge Pak gained three paisa to Rs7.85 on 5m shares.
Pak Elektron shed seven paisa to close at Rs16.70 on 4m shares; Adamjee Insurance closed higher at Rs102.49 and gained 42 paisa on 4m shares; Maple Leaf Cement remained lost one paisa to close at Rs24.25 on 4m shares; and Nishat Mills XD bagged 40 paisa to Rs102.50 on 3m shares.
