KSE crosses 7,500 level as volume rises to 382m shares

KARACHI - Law and order situation in the country overshadowed the bullish sentiments at the local bourses while KSE-100-index sustained the upward movement, gaining 86.05 points on Monday. Local bourses are still trading well below potential due to various internal curbs, the events over the weekend and threats had a visible impact on the sentiment and the index made a visit to red zone, initially. The KSE-100-index opened with a gain of 19.36 points and at the end of the day closed at 7,518.93 breaching the psychological level of 7,500 points. Trading activity was better as compared to the last trading session. The ready market volume increased to 382.184m shares as compared to last trading sessions 330.158m shares. Market capitalization stood up to Rs 2.262tr against Rs 2.235tr of last trading session. As many as 254 companies at the KSE advanced, 120 declined and 14 remained unchanged. Total trading value of the shares traded at market remained 11.848 billion rupees on Monday as compared to last sessions 12.510 billion rupees on Friday. While the oil & gas exploration and fertilizer sector faced off-loading, the banking stocks staged a healthy recovery, good enough to support the benchmark, mainly on the apprehension of better than expected earnings of first quarter. NIB Bank was witnessed as the volume leader of the day with the trading of nearly 39 million shares on Monday. Among other noted shares were PTCL with 26.265m shares, National Bank 19.972m shares, Pervez Ahmed 19.249m shares, Jahangir Siddiqui 13.848m shares, OGDC 13.296m shares, Maple Leaf 11.870m shares, Arif Habib Securities 10.334m shares, Bank Al-Falah (SPOT) 9.882m shares, Arif Habib Bank 9.102m shares namely. Major gainers at the KSE include Siemens Pakistan and it gained 33.70 rupees/share, closing at Rs719 with the trading of only 100 shares on Monday, Bata Pakistan closed at Rs728 gaining 28.67 rupees/share, Wyeth Pakistan added 21 rupees/share and closed at Rs1349, Lakson Tobbaco gained 9.67 rupees/share and its value was improved to Rs203.22, Al-Ghazi Tractor (SPOT) gained 8.04 rupees/share and closed at Rs168.98, Mari Gas Company added 7.82 rupees/share, closing at Rs164.23, BOC Pakistan (SPOT) closed at Rs 160.59, gaining 7.64 rupees/share. Conversely, Ferozsons Lab lost 7.10 rupees/share and closed at Rs140.90, Pak Petroleum lost 4.01 rupees/share and its total value was decreased to Rs179.95, Shell Pakistan closed at Rs245.76, losing 3.41 rupees/share, Zulfeqar Industries lost 3.02 rupees/share and closed at Rs63.45, Engro Chemical lost 2.60 rupees/share and closed at Rs153.59, Pak Oilfields (SPOT) lost 2.41 rupees/share, closing at Rs184.53, JS Global Capital also lost 2.07 rupees/share and closed at Rs98.04, PSO lost 1.63 rupees/share and closed at Rs199.13. Aggressive power and exploration policy kept the buyers cued on dips thereby restricting the adjustment in the sector, besides volatility in law & order situation order macro fundamentals are likely to invite fresh liquidity from local circuits, stated research analyst Hasnain Asghar Ali. It is anticipated that donation of funds expected from friends of Pakistan could be beneficial for cement sector.

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