Bull-run strengthens on banks support

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KARACHI - The Karachi stock market’s rally continued on Tuesday, led by the banking sector especially NBP and MCB. “Small cement companies like FCCL and MLCF also remained in limelight. Profit-taking was seen in Engro Foods that has rallied substantially so far this year,” equity dealer Mohammad Rizwan observed here.

At local equity market, the benchmark KSE 100-share index gained 62.86 points or 0.36 per cent to stop the day at 17611.40 points as compared to 17548.54 points of the previous day.

KSE allshare-index gained 27.05 points or 0.22 per cent to end the day at 12434.78 points, KSE 30-share index grew by 60.71 points or 0.42 per cent to close the day at 14386.15 points while KMI 30-share index added 36.76 points or 0.12 per cent to finish the day at 30497.65.

The day turnover of equity market in terms of shares was 236.324 million shares compared to 278.248 million shares of last working day and the value of traded shares climbed to Rs 6.896 billion from Rs 6.544 billion. Capitalization of stock market settled at Rs 4.405 trillion compared to Rs 4.396 trillion of a day earlier.

Trading took place in 346 companies where losers beat the gainers by 172 to 152 while the values of 22 stocks remained intact. Unileve Food and Nestle Pakistan Limited were the biggest price gainers of the day, up by Rs 100 to Rs 4200 and Rs 30 to Rs 5030 while the down-hill trend was led by UniLever Pak and Bata (Pak), down by Rs 50 to Rs 10350 and Rs 28 to Rs 1457.

Active list was topped by Fauji Cement with 36.010 million shares, up by Re 0.24 to Rs 8.21. Maple Leaf Cement was on the second position with 17.106 million shares, shed Re 0.22 to Rs 17.83. It was followed by TRG Pakistan Limited with 17.059 million shares, misplaced Re 0.13 to Rs 8.13, Lotte Pak PTA with 15.872 million shares, up by Re 0.12 to Rs 7.97 and National Bank Pak with 10.342 million shares, higher by Rs 2.36 to Rs 53.67.


Courtesy: The Nation

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