KSE recovers 32 points in choppy trade

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Karachi: After a steep fall of more than 350 points in last two trading sessions, the Karachi stock market gained 35 points on Wednesday, though it remained choppy throughout the day. The KSE 100-share index posted a fresh gain of 32.25 points or 0.18 percent to end the day at 18394.12 points as compared to 18361.87 points of the previous day.
A dealer said renewed buying interest was witnessed in MLCF and Engro Corp. MLCF closed at its upper limit with 19m shares traded while Engro Corp rose by Rs.5.00. PTC remained under pressure for 3rd consecutive day after its March result. In addition to that, DGKC’s March result announcement was also below investors’ expectations.

KSE allshare-index went up by 34.95 points or 0.27 percent to end the day at 13039.05 points, KSE 30-share index grew by 9.49 points or 0.07 per cent to end the day at 14305.35 points while KMI 30-share index shed 62.61 points or 0.19 per cent to close the day at 32205.87 points.

The turnover of stock market in terms of shares was 174.416 million shares after opening at 184.366 million shares and the value of traded shares climbed to Rs 6.946 billion from Rs 6.457 billion. Capitalization of equity market settled at Rs 4.507 trillion as compared to Rs 4.499 trillion of day a earlier.
During the session, 346 companies participated in the trading where 161 closed in positive and 163 in negative while the values of 22 stocks remained intact. Unilever Food XD was the top loser of the day, decreased by Rs 240 to Rs 4560, and Bhanero Tex, down by Rs 15.86 to Rs 301.39. Wyeth Pak Limited XD and Bata (Pak) XD were the top gainers of the day, up by Rs 56 to Rs 1210 and Rs 50 to Rs 1800.

Maple Leaf Cement was the top traded company of the day with 19.456 million shares, gained Re 0.97 to Rs 18.36. It was followed by PTCLA with 14.139 million, Engro Corporation with 13.093 million, TRG Pakistan Limited with 12.470 million, JS Co XD with 11.089 million, Dera Ghazi Khan Cement with 7.927 million, Byco Petroleum with 4.958 million, Pak Elektron Limited with 4.218 million, National Bank XD XB with 4.153 million and Summit Bank (R) with 4.149 million shares respectively.


Courtesy: The Nation

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