Market remains lacklustre on first day of business week

LAHORE - Business resumed on the first business day of the week Monday in Karachi Stock Exchange (KSE) as normal but it remained limited and unchanged like previous week and closed at 9,183.14 points. Lack of decision of which way inject the liquidity and floor mechanism still gripped the flat and dull market and no hectic activities could be witness in the benchmark index while investors and brokers preferred to examine the fate of money changers. Total 21 scrips traded in the bourse in which six companies recorded gains while four sustained losses and 11 remained unchanged. The turnover at the local bourse witnessed upward trend as total trading volume remained at 123,700 as compared to 78,500 shares traded on Friday. The highest trading on Monday was seen in the scrip of Gharibwal Cement which gained Re 0.27 closed at 17.45 with volume of 38,500 shares. Except Friday, Gharibwal Cement scrip shed its value the whole last week. National Assets was the scrip which shed its value of Re 0.01 closed at Re 0.40 with volume 25,500 shares. Indus Poly, Nimir Resin, East West Life and Paramount Mod remained unchanged closed at Re 0.74, Rs 5.05, Rs 7.00 and Rs 9.25 with volumes of 20,000, 10,000, 6,500 and 4,000 respectively. However, Saritow Sp gained Re 0.27 closed Rs 2.00 with volume 3,000 shares. Al-Zamin Leasing which was leader on Friday business shed value Monday of Re 0.19 closed at Rs 1.80 with volume of 2,500 shares. Southern Electric, however, gained Re 0.12 closed at Rs 3.72 with volume of 2,000 shares. Bank Al-Habib and Mukhtar Textile remained unchanged closed at Rs 34.14 and Re 0.53 with volumes of 2,000 and 1,500 shares respectively. Textile Engg, however, gained Re 0.95 closed at Rs 5.40 with volume of 1,500 shares. Chashma Sugar, Invest and Fin Sec and Nishat Chunian remained unchanged closed at Rs 5.70, Rs 8.65 and Rs 11.62 with volumes of 1,500, 1,000 and 1,000 respectively. However, Sitara Energy shed its value of Re 0.41 closed at Rs 20.60 with volume of 1,000 shares. Latif Jute remained unchanged closed at Rs 7.10 with volume of 500 shares. Crescent Sugar and Pak Com Leas gained Re 1.00 and Re 0.01 closed at Rs 8.55 and Rs 0.57 respectively with volumes of 500 shares each. The value of Habib ADM dipped to Re 0.67 closed at Rs 9.57 with volume of 500 shares. And the lowest traded Askari Bank remained unchanged closed at Rs 27.98 with volume of 200 shares. 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. While, Lahore Stock market witnessed stability as LSE-25 index remained at the same level and closed at 2825.36 points. Total turn over however witnessed upward trend of 8,00 as compared to 1,500 shares on the last business day Friday. In all the 77 companies transacted on the day, no one could move up, while one shed its value and rates of all other scrips remained unchanged as SEPCO dipped down to Re 0.05 closed at Rs 3.55 with volume of 7,000 shares and GENP remained unchanged closed at Rs 1.48 with volume of 1,000 shares. Meanwhile, SECP Chairman, Raziur Rahman said if Karachi Stock Exchange (KSE) makes any special request for holding a special session, then it will be reviewed. He said that KSE has so far made no request for holding session for the purchase of existing shares in CFS. He said that the support fund would soon get into operation in the market. 

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