KSE gains 132 points as equity values inch up

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KSE gains 132 points as equity values inch up

KARACHI: Led by small cap stocks equity values inched up by 0.7pc. More than 2 dozen mid cap stocks closed at its upper cap limit. Engro Corp remained in limelight as investors expect the company will post good results after better performance by its fertilizer business. Fauji Cement also remained in the limelight due to speculation of exceptional results, dealers observed.
The Karachi stock market benchmark KSE-100 share index gained 132.37 points or 0.71 percent to end the day at 18,779.66 points compared to 18,647.29 points of the previous day.
KSE-Allshare index up by 95.52 points or 0.72 percent to send the day at 13,301.59 points, KSE-30 index added 87.09 points or 0.60 percent to close the day at 14,517.21 points while KMI-30 share index extended by 88.48 points or 0.27 percent to finish the day at 32,715.69 points.

Analysts said institutional interest witnessed in stocks across the board amid recovery in global commodities, strong announcements in oil, banking stocks and speculations ahead of quarter end results this week despite concerns for security unrest and strike call in the city.

In term of shares bourse traded 219.875 million shares after opening at 171.871 million shares and the value of traded shares was climbed to Rs 6.380 billion after opening at Rs 4.930 billion. The capitalisation of equity market settled at Rs 4.596 trillion compared to Rs 4.563 trillion of a day earlier.
Trading took place in 370 companies where gainers held a strong lead over the losers 217 to 135 while the value of 18 stocks remained intact. Unilever Food XD and Nestle Pak.XD were the biggest price gainers of the day up by Rs 230 to RS 4830 and Rs 175 to Rs 6200. The down hill trend were led by Island Textile and Clariant Pak decreased by Rs 45 to Rs 900 and Rs 8.41 to Rs 294.05.

Fauji Cement was the top traded company of the day with 46.463 million shares as it closed at Rs 8.75 after opening at Rs 8.39. Wateen Telecom Limited was on the second position with 15.659 million shares.
It was followed by TRG Pakistan Limited with 14.978 million shares off by Re 0.31 to Rs 9.30, Engro Corporation with 11.313 million shares up by Rs 4.32 to Rs 139.35 and PTCLA with 8.682 million shares extended by Re 0.37 to Rs 18.41.

Courtesy: The Nation

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