KARACHI - Stocks showed recovery in the quarter end earning announcement session on institutional support in selected stocks across the board on renewed hopes for peace talks with TTP and strong earnings announcements in cement sector.
Karachi Stock benchmark 100 index posted a fresh gain of 69.55 points or 0.24 percent to end the day at 28786.74 points compared to 28717.19 points of the previous day. KSE-Allshare up by 27.48 points or 0.13 percent to finish the day at 21511.15 points, KSE-30 index added 63.55 points or 0.32 percent to stop the trading at 20025.62 points while KMI-30 index off by 36.09 points or 0.08 percent to close the day at 45705.44 points. Ahsan Mehati analyst at Arif Habib said below expected auction of 3G/4G licences in telecom sector, security unrest following Karachi blast and pressure in textile stocks amid losses on rupee appreciation impacted the sentiments.
Turnover of market was 216.773 million shares compared to 277.102 million shares of the previous day while the volumes fell to Rs 9.804 billion after opening at Rs 13.908 billion. Capitalisation of the market maintained at Rs 6.899 trillion.
Activity took place in 357 companies where 167 closed in positive and 1788 in negative while the value of 12 stocks remained intact. Downhill trend were led by Nextle Pak.XD and Sanofi-Aventis XD deceased by Rs 125 to Rs 7900 and Rs 49.57 to Rs 941.93. Rafhan Maize was the highest price gainer of the day up by Rs 116.67 to Rs 10416.67 followed by Bata (Pak) XD added Rs 32 to Rs 3443.
Maple Leaf Cement topped the volume chart with 10.419 million shares shed by Re 0.06 to Rs 30.44. It was followed by JS Co with 9.323 million, Lafarge Pak.XD with 9.036 million, Engro Fertilizer Ltd with 7.993 million, Bank of Punjab with 7.153 million, Pioneer Cement with 7.077 million, K-electric Ltd with 6.954 million, PTCL AXD with 6.698 million, Dewan Salman with 6.621 million and Dera Ghazi Khan Cement with 6.065 million shares respectively.