Market opens with hope but closes flat

LAHORE - Though the business in Karachi Stock Exchange (KSE) spurred and investors took some interest in trading with a hope but benchmark index remained unchanged and closed at 9,182.88 points on the first day of business week. Total 37 companies traded in the bourse in which 10 got advance whereas only one scrip dipped while rest of the 26 companies remained unchanged. KSE-100 market though opened with limited business activities and but investors showed some interest after Shaukat Tarin KSE visit and promise to pour liquidity in market and benchmark index witness two point gained in business hour but at the end when brokers winding up their business, the market closed at the same flat level of last whole week stage. The turnover at the local bourse stood at 457,100 and the highest trading on Monday was seen in the scrips of Pace (Pak) Ltd with a volume of 150,000 shares whose share remained unchanged closed at Rs 19.24 followed by Stand. Chart. Mod whose volume remained 108,500 closed at Re 8.60 with no change. Southern Electric also remained unchanged closed at Rs 3.60 with volume of 68,000 shares. Whereas Pak Datacom gained Rs 2.21 closed at Rs 46.41 with volume of 31,400 shares. Gharibwal Cement, however, was sole scrip which shed its value of Re 0.29 closed at 17.70 with a volume of 19,500 shares. PTCLA scrip also remained unchanged closed at Rs 31.50 with volume of 16,100 shares. Habib ADM Ltd, Mukhtar Textile and Sitara Energy gained Re 0.45, Re 0.07 and Re 0.90 closed at Rs 9.44, Re 0.40 and Rs 20.40 with volumes of 13,500, 6,000 and 5,500 shares respectively. However, Fauji Fertiliser and Tri-Star Power remained unchanged closed at Rs 100.00 and Rs 1.60 with volumes of 4,200 and 2,500 shares respectively. While 1st Fid Leasing and Mirza Sugar witnessed slight increase in their scrips of Re 0.02 and Re 0.20 closed at Rs 3.20 and Rs 2.00 respectively with volumes of 2,500 shares each. HBL Mod, Habib Mod and Shifa Inter. Hos remained unchanged closed at Rs 6.00, Rs 5.44 and Rs 20.05 with volumes of 2,000, 2,000 and 1,000 respectively. Network Leasing, however, gained slight Re 0.20 closed at Rs 2.80 with a volume of 1,000 shares. Business volume of rest of the companies remained 1,000 or less and closed at the same rate with no change in value. Experts are of the opinion that Karachi Stock market would remain in such dilapidated condition unless government do not pour liquidity in the markets. Meanwhile, the KSE-30 index also remained unchanged and closed at at 10,003.99 points and KMI-30 index also with no change closed at 11224.18 points. Meanwhile, share prices at the ISE remained stable where the ISE-10 index closed at 2003.17 without witnessing any change. A total of 10,791 shares were traded in the market compared to 21,035 on previous day's trading. While, Lahore Stock remained unchanged as LSE-25 index closed at 2825.36 points. Total turn over however witnessed declining trend as it remained 12,600 shares wherein one scrip gained, one company dipped down while 72 scrips remained unchanged.

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