State-run funds support keeps KSE in green zone

KARACHI - The Karachi Stock Exchange continued the upward movement on Friday and the KSE-100 index
gained another 34 points to close the week at 7,163 points.
The market performance was quite steady with healthy volumes of over 150m share as index gained few more
points. Meeting of stock members at KSE can be termed as a positive for the market as members are using
their brains to form a mechanism how FED will be calculated and paid in a hassle free manner. The clarity
regarding FED provided some comfort level to the investor community to reenter the market.
Good volumes can be termed as positive, but the question arises whether the volumes can be sustained at
current level or not. So we need to be cautious while making any investment decision, said market expert Bilal
Asif.
The Bourse was positive in the opening, up by 24.12 points and remained in the green zone throughout the
trading sessions. Index closed the day at 7,163.04 points, gaining 34.21 points on Friday.
Trading activity was much healthier as compared to the last trading session as the ready market turnover stood
at 152.664m shares against last trading sessions 104.371m shares. Total trading value of the market inched up
to Rs5.855b from last sessions Rs5.417b. Market capitalisation also increased to Rs 2.120tr as compared to
last trading sessions Rs 2.111tr. Out of 312 active scrips at the stock market, as many as 160 gained value,
129 lost and the work of 23 symbols remained unchanged.
Cement stocks were on a role as cement twins kept on wearing green colour, while at the same time banks
were back in action. E&P sector more or less remained muted but OGDC became a part of top volume leaders
list. Main stream stocks returned with healthy volumes over the last couple of days supported the index well.
Arif Habib Bank was the volume leader of the day with a turnover of 19.907 million shares on Friday. Among
other high-traded shares were DGKC with 15.693m shares, Lucky Cement 13.339m shares, JSCL 8.702m
shares, PTCL 7.982m shares, OGDC 5.708m shares, AHSL 5.656m shares, NBP 4.639m shares, MCB Bank
3.965m shares, IGI Inv. Bank 3.752m shares namely.
Prominent gainers at the KSE include Nestle Pak, up by Rs16.84/share to close at Rs1,106.74 with the trading
of only 800 shares, Attock Petroleum added Rs6.02/share and closed at Rs320.54, Millat Tractor gained
Rs5.52/share, closing at Rs284.02, National Refinery up by Rs5.01/share and its value was improved to
Rs219.52, HBL added Rs3.54/share, closing at Rs88.25, Tri-Pack Films gained Rs3.46/share and closed at
Rs99.99, Mari Gas Company closed at Rs153.50, adding Rs3.44/share.
Conversely, Unilever Pak down by Rs63.41/share with the trading of only 60 shares on Friday, Bata Pak lost
Rs32/share to close at Rs630, Fazal Textile down by Rs17.18/share and its total value was decreased to
Rs335.82, Pak Services lost Rs5.40/share and closed at Rs122.60, Sitara Chemical down by Rs3.75/share to
close at Rs153.25, Indus Motor down by Rs3.50/share, closing at Rs111.01, BOC Pak lost Rs3.39/share and
closed at Rs114.56.
Continuing foreign investment in local bourse invited fresh investment interest ahead of result announcement
session starting next week, while state-run funds continued to support the market throughout the trading
session, expressed Ahsan Mehanti adding, approval of bill by US Senate to triple the non-military aid to
Pakistan played a key role in positive closing.