Stocks at fresh record high

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KARACHI - Index closed at yet another highest level led by selected blue chip stocks in fertilizer and banking sectors amid speculations ahead of SBP policy rate announcement after record low CPI Inflation for Noví12. The Karachi stock market KSE-100 share index added 25.55 points or 0.15 percent to close the day at 16,675.70- points as KSE-Allshare index up by 5.52 points or 0.05 percent to end the day at 11,749.60 points. KSE-30 share index gained 16.01 points or 0.12 percent to end the day at 13,503.65 points while KMI-30 share index lost 43.73 points or 0.15 percent to conclude the day at 28,573.86 points.

Ahsan Mehanti at Arif Habib Corp said consolidation continued amid higher cement sales and prices data, expectations for release of US Coalition Support Funds and renewed foreign interest in blue chip stocks with concerns for NA reluctance on issuance of notification regarding import of over 3 yr old cars.

Market traded 234.131 million shares after opening at 193.049 million shares and the value of traded share was climbed to Rs 5.611 billion from Rs 4.895 billion. Bourse capitalisation settled at Rs 4.172 trillion as compared to Rs 4.170 trillion of a day earlier. Equity dealers said selling in PTCL after PTA withdrew its previous notification regarding Suspension of Interconnection Circuits was the main limelight of todayís trading. Similarly FCCL also remained under pressure after sponsors intimated that they have sold 330m shares in the market. On the other hand Engro Foods closed at upper limit, thanks to institutional buying.

Trading took place in 369 companies where losers beat the gainers 193 to 164 while the value of 12 stocks remained intact. Indus Dyeing was the top loser of the day down by Rs 30 to Rs 590 followed by Sanofi Aventis Pak decreased by Rs 18 to Rs 357. Mitchells and Shezan Inter were top gainers of the day up by Rs 17.50 to Rs 367.50 and Rs 6.96 to Rs 446.96.

PTCLA was the volume leader of the day with 27.187 million shares as it closed at Rs 17.01 after opening at Rs 17.91. JS Co was on the second position with 23.922 million shares up by Re 0.30 to Rs 18.77. It was followed by† Lotte PakPTA with 16.663 million shares up by Re 0.04 to Rs 7.23, Fauji Cement with 14.216 million shares shed by Re 0.09 to Rs 6.82 and Byco Petroleum with 8.254 million shares higher by Re 0.67 to Rs 10.67.

Courtesy: The Nation

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