KSE index gains 16.85 points in healthy trade

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Market consolidated above 18,600 index level with volumes remained healthy. Institutional activity was witnessed in National Bank and Engro Foods. At local equity market benchmark KSE-100 share index gained 16.85 points or 0.09 percent to end the day at 18,631.21 points compared to 18,614.36 points a day earlier.

National Bank witnessed a healthy volume of 19m shares while Engro Foods closed at its upper cap. Engro Polymer also remained in limelight after its above expectation result announcement, dealers observed here on Friday.

Analysts said institutional interest witnessed amid thin trade on speculations ahead of major earning announcements due next week on strong valuations and rising local commodity prices despite concerns on furor over Pakistan economic challenges under new UN survey, higher circular debt in energy sector and falling reserves on account of current account deficit & IMF repayments.

KSE-Allshare index extended by 27.27 points or 0.21 percent to end the day at 13,181.49 points, KSE-30 share index shed by 15.77 points or 0.11 percent to finish the day at 14,472.84 points while KMI-30 share index increased by 11.28 points or 0.03 percent to conclude the day at 32545.30 points.
On the last day of trading week stock traded 159.346 million shares compared to 147.440 million shares of the previous day and the value of traded shares was climbed to Rs 6.371 billion from Rs 6.148 billion. The capitalisation of equity market maintained at Rs 4.555 trillion after opening at Rs 4.546 trillion.

Trading took place in 348 companies where gainers beat the losers 177 to 151 while the value of 20 stocks remained intact. Unilever Food XD and Wyeth Pak Limited XD were the biggest price gainers of the day up by Rs 68 to Rs 4400 and Rs 63.32 to Rs 1329.82. Rafhan Maize and Indus Dyieng were the top losers of the day decreased by Rs 52 to Rs 3850 and Rs 10 to Rs 380.

National Bank XDXB was the top traded company of the day with 18.869 million shares as it closed at Rs 41.77 after opening at Rs 41.06. It was followed by Engro Polymer with 14.207 million shares up by Re 0.31 to Rs 11.77, Engro Corporation with 12.474 million shares shed by Re 0.88 to Rs 137.45, Maple Leaf Cement with 8.523 million shares reduced by Re 0.51 to Rs 18.64 and Lotte PakPTA with 7.456 million shares added Re 0.23 to Rs 7.31.

In a weekly review, equity dealer Samar Iqbal said amid volatility in global equity markets and commodity prices local bourse also witnessed a volatile week. Market traded in a range of 269 points to close down by 0.4pc while volumes saw an increase of 31pc to average Rs.6.2b.

Foreigner fund managers also remained net buyer of $8.8 (till 18th Apr). Most of the companies announced their March quarter results this week like Attock Group, PTC, DGKC, HBL, EFOODS. PTC saw selling pressure after below expectation result announcement while DGKC and Efoods March earnings also fell below investors expectations. Renewed buying interest in OGDC, NBP, Engro Corp was also seen. Going forward, results announcements, upcoming elections and change in global economic scenario will set investors’ mood.

 

Courtesy: The Nation


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