RECORDER REPORT
KARACHI: The benchmark 100-share index of Karachi Stock Exchange (KSE) Thursday started the year 2015 on a bullish note touching the level of 32,503.80 points for the first time to settle at 32,480.35 points.
The KSE-100 index closed at 32,480.35 points, up by 1.09 percent or 349.07 points as compared to 32,131.28 points Wednesday.
Trading value at the local bourse fell to Rs. 12.486 billion from Rs. 13.189 billion.
The market capitalisation increased by Rs. 58.564 billion or 0.79 percent to reach Rs. 7,439.095 billion from Rs. 7,380.531 billion. The volume stood at 230.14 million from 202.90 million shares.
Out of 349 scrips, 234 advanced, 95 declined while the value of 20 scrips remained unchanged.
During the intraday trading, the KSE-100 index remained sporadic, touching highest level of 32,503.80 points for the first time and plunging to 32,131.28 points lowest level.
Ahsan Mehanti of Arif Habib Corp said stocks closed all-time high amid higher trades after CPI Inflation data for December 2014 stood at 4.3pc YoY raising expectations for a cut in SBP Policy rate later this month.
He said the government decision for cut in local petroleum prices after slump in WTI Crude to over 5-year lows, extension of gas allocation to Engro Fertilizers and expectation for strong earnings in fertiliser, banking and cement sector played a catalytic role in the bullish activity.
Fahad H Khan of ASL said bulls ended the session in green zone to celebrate the New Year. Cement sector continuously supporting the bullish trend amid attractive valuations of cement stocks. Engro group stocks also played their part in the bullish rally.
Samar Iqbal of Topline said local investors were enthusiastic due to falling inflation in spite of selling by foreigners in December.
She said cement sector rallied due to good numbers for the half year ending December 2014 and added that ENGRO once again attracted huge volume and closed with 5 percent increase.
Lafarge Pak emerged the volume leader on 19.14 million shares gaining Re. 0.53 to close at Rs. 17.88. Maple Leaf Cement stood second, up Rs. 2.21 to close at Rs. 46.46 on 17.98 million shares. Jah.Sidd.Co closed at Rs.15.33, up Re. 0.79 on 16.48 million shares.
TRG Pak Ltd advanced by Re. 0.45 to close at Rs. 15.01 on 10.67 million shares. Fauji Cement also increased by Re. 0.92 to close at Rs. 26.76 on 9.46 million shares. Engro Corp witnessed substantial growth of Rs. 10.86 to close at Rs. 232.37 on 9.43 million shares. D.G.K Cement closed at Rs. 115.33, up Rs. 4.80 on 8.48 million shares. Engro Foods Ltd gained Rs. 4.95 to close at Rs. 113.49 on 7.21 million shares. Engro Fertilizer Ltd closed at Rs. 82, up Rs. 3.90 on 7.19 million shares. Bank Al-Falah lost Re. 0.47 to close at Rs. 34.41 on 6.37 million shares.
Bata (Pak) and Siemens were the top gainers with Rs. 80.22 and Rs. 55. 72 to close at Rs. 3,570.22 and Rs. 1,170.31, respectively. Rafhan Maize and J.D.W.Sugar were the worst losers with Rs. 203.80 and Rs. 10.21 to close at Rs. 11,000 and Rs. 290.33, respectively.
