Market Watch: Bourse closes flat in mixed session
KSE’s benchmark 100-share index crawls down four points.
KARACHI:
The stock market closed flat on Tuesday as investors built new positions by selling and accumulating stocks.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index crawled down 0.03 per cent or 4.44 points to end at the 12,739.22 point level.
National Bank of Pakistan was by far the top performer over expectations of better earnings and payouts when it announces its full year result on March 6, said JS Global Capital analyst Jawad Khan. The bank’s scrip rose to its daily limit of 5% and was the third highest traded share during the trading session.
Trade volumes gained to a healthy level of 218 million shares compared with Monday’s tally of 205.8 million shares.
Lucky Cement once again remained highly sought after jumping 2.8%, while DG Khan Cement underwent mild pruning to close down 1.1%, but once again remained among top volumes. The cement industry’s profits doubling in the first six months of 2012, made investors forecast a repeat performance in the second half.
Foreign institutional investors were highly active as they were buyers of Rs525 million and sellers of Rs325 million worth of shares, according to data maintained by the National Clearing Company of Pakistan Limited.
Oil stocks remained out of favour yet again with both Pakistan Oilfields and Pakistan Petroleum closing down 0.5% while Attock Refinery jumped 2.8% over local buying interest.
Shares of 347 companies were traded on Tuesday. At the end of the day 115 stocks closed higher, 153 declined while 79 remained unchanged. The value of shares traded during the day was Rs6.2 billion.
Jahangir Siddiqui and Company was the volume leader with 25.7 million shares declining Rs0.48 to finish at Rs10.01. It was followed by Pace (Pak) with 20.9 million shares gaining Rs0.6 to close at Rs2.57 and National Bank of Pakistan with 14.6 million shares firming Rs2.48 to close at Rs52.11.
Published in The Express Tribune, February 29th, 2012.
The stock market closed flat on Tuesday as investors built new positions by selling and accumulating stocks.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index crawled down 0.03 per cent or 4.44 points to end at the 12,739.22 point level.
National Bank of Pakistan was by far the top performer over expectations of better earnings and payouts when it announces its full year result on March 6, said JS Global Capital analyst Jawad Khan. The bank’s scrip rose to its daily limit of 5% and was the third highest traded share during the trading session.
Trade volumes gained to a healthy level of 218 million shares compared with Monday’s tally of 205.8 million shares.
Lucky Cement once again remained highly sought after jumping 2.8%, while DG Khan Cement underwent mild pruning to close down 1.1%, but once again remained among top volumes. The cement industry’s profits doubling in the first six months of 2012, made investors forecast a repeat performance in the second half.
Foreign institutional investors were highly active as they were buyers of Rs525 million and sellers of Rs325 million worth of shares, according to data maintained by the National Clearing Company of Pakistan Limited.
Oil stocks remained out of favour yet again with both Pakistan Oilfields and Pakistan Petroleum closing down 0.5% while Attock Refinery jumped 2.8% over local buying interest.
Shares of 347 companies were traded on Tuesday. At the end of the day 115 stocks closed higher, 153 declined while 79 remained unchanged. The value of shares traded during the day was Rs6.2 billion.
Jahangir Siddiqui and Company was the volume leader with 25.7 million shares declining Rs0.48 to finish at Rs10.01. It was followed by Pace (Pak) with 20.9 million shares gaining Rs0.6 to close at Rs2.57 and National Bank of Pakistan with 14.6 million shares firming Rs2.48 to close at Rs52.11.
Published in The Express Tribune, February 29th, 2012.