The Karachi Stock Exchange’s (KSE) benchmark 100-share index gained 0.15 per cent or 18.36 points to end at the 12,231.60 point level.
The Supreme Court’s hearing scheduled for February 13 also kept investors from taking major positions in the market, said JS Global Capital analyst Umer Ayaz on Friday. Prime Minister Yousaf Raza Gilani will appear before the court on February 13 to face contempt charges against him for the government’s two-year refusal to write to Swiss authorities to revive cases against President Asif Ali Zardari.
Unilever gained Rs12.94 to close at Rs5,312.77 after posing better than expected earnings per share of Rs308 along with final dividend of Rs202 per share.
Among blue chips, National Bank of Pakistan and Pakistan Telecommunication Company Limited witnessed decent volumes of 5.7 million and 3.9 million shares, respectively. Oil stocks remained lacklustre despite the approval of petroleum policy by Council of Common Interests.
Trade volumes fell to 107 million shares compared with Thursday’s tally of 139 million shares.
Shares of 306 companies were traded on Friday. At the end of the day 108 stocks closed higher, 127 declined while 71 remained unchanged. The value of shares traded during the day was Rs2.92 billion.
Fauji Cement was the volume leader with 14.46 million shares declining Rs0.08 to finish at Rs4.55. It was followed by Jahangir Siddiqui and Company with 12.82 million shares losing Rs0.33 to close at Rs7.47 and Fatima Fertilizer Company with 8.02 million shares gaining Rs0.52 to close at Rs22.65.
Foreign institutional investors were net buyers of Rs138 million worth of shares, according to data maintained by the National Clearing Company of Pakistan Limited.
Published in The Express Tribune, February 11th, 2012.
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