The Karachi Stock Exchange’s (KSE) benchmark 100-share index gained 0.64 per cent or 76.29 points to end at the 11,960.21 point level.
The bourse closed in the positive territory predominantly supported by index giant Oil and Gas Development Company (OGDC), said Topline Securities Equity Dealer Samar Iqbal. The country’s largest oil and gas explorer OGDC edged up 2.7% amid healthy volumes.
Overall trade volumes however fell to the paltry level of 76 million shares compared with Thursday’s tally of 125 million shares.
Fauji Fertilizer Company remained the star performer in the second half of the session by closing near its upper limit of the day over market rumours that the company will declare a stock dividend with annual result scheduled to be announced on Monday.
Engro Corporation soon followed and gained 1.6%, while Fauji Fertilizer Bin Qasim inched lower by 1.1% despite announcing better than expected annual results on Thursday.
Foreign institutional investors were net sellers of Rs27 million worth of shares, according to data maintained by the National Clearing Company of Pakistan Limited. Shares of 307 companies were traded on Friday. At the end of the day 88 stocks closed higher, 121 declined while 98 remained unchanged. The value of shares traded during the day was Rs4.27 billion.
Lotte Pakistan PTA was the volume leader with 12.78 million shares declining Rs0.82 to finish at Rs8.8. It was followed by Fauji Fertilizer Company with 9.04 million shares gaining Rs8.5 to close at Rs186.17 and DG Khan Cement with 8.05 million shares gaining Rs0.17 to close at Rs23.26.
Published in The Express Tribune, January 28th, 2012.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ