RECORDER REPORT
KARACHI: After witnessing negative trend in early hours, Pakistan Stock Exchange Friday managed to close in positive on the back of select buying at the fag end.
BRIndex100 gained 10.2 points or 0.24 percent to close at 4,295.21 points. BRIndex100 touched intraday high of 4,308.06 and intraday low of 4,264.31 points. Volumes stood at 90.429 million shares.
BRIndex30 inched up by 2.51 points or 0.01 percent to close at 21,414.58 points with a turnover of 73.918 million shares.
The benchmark KSE-100 index increased by 45.33 points to close at 40,284.14 points. Trading activity however remained very thin as daily volumes on the ready counter declined to 103.893 million shares as compared to 143.175 million shares traded Thursday.
Foreign investors remained net sellers of shares worth $0.6 million. The market capitalization increased by Rs 6 billion to Rs 8.358 trillion. Out of total 320 active scrips, 170 closed in positive, 123 in negative while the value of 27 stocks remained unchanged.
K-Electric was the volume leader with 40.474 million shares. However, it lost Re 0.09 to close Rs 5.58 followed by Pak Int. Bulk (R) gained Re 0.02 to close at Rs 0.99 with 4.583 million shares.
Island Textile and Siemens Pak were the top gainers with Rs 52.00 and Rs 37.43, respectively to close at Rs 1,250.00 and Rs 1,011.67. Wyeth Pak and Khyber Tobacco were the top losers with Rs 41.07 and Rs 31.31, respectively to close at Rs 1,395.92 and Rs 608.69.
BR Commercial Banks Index lost 5.21 points or 0.06 percent to close at 8,377.46 points with total turnover of 7.178 million shares.
BR Cement Index inched up by 0.63 points or 0.01 percent to close at 4,324.06 points with 11.042 million shares.
BR Oil and Gas Index decreased by 2.85 points or 0.06 percent to close at 5,110.00 points with 3.746 million shares.
BR Tech. & Comm. Index gained 6.18 points or 0.55 percent to close at 1,132.91 points with 4.532 million shares.
BR Power Generation and Distribution Index closed at 5,852.88 points, up 5.0 points or 0.09 percent with 41.022 million shares.
Maaz Mulla at JS Global Capital said a lackluster session was witnessed at the local bourse, with the KSE-100 Index only increasing by 0.08 percent (plus 45 points), to close at 40,284 level.
Most of the dull activity can be attributed to political uncertainty and lack of positive triggers. On the political front, the Accountability Court convicted and sentenced former premier Nawaz Sharif to 10 years jail term on corruption charges in Avenfield corruption reference in his absence. His daughter Maryam Nawaz was awarded seven years and her husband, Captain Safdar (Retd), one year imprisonment in the case, in addition to a cumulative fine of 10 million pounds.
Cement sector closed in the green zone where big players such as FCCL (up 0.18 percent), DGKC (up 0.33 percent), MLCF (up 0.13 percent) and PIOC (up 1.13 percent) were the major movers of the mentioned sector. Limited participation was witnessed in the banking space where UBL (up 0.17 percent), MEBL (up 0.61 percent), BAFL (up 0.31 percent) and BAHL (up 0.09 percent) closed in the green zone.
