KSE sees another dull session

By: Sadiq Rizvi | Published: November 27, 2009

BoP was witnessed as the volume leader with a healthy turnover of 11.746 million shares, followed by Pak PTA with 7.965m shares, OGDC 7.513m shares, Bank Al-Falah 4.368m shares, Nishat Chunian 4.301m shares, JSCL 3.714m shares, NML 3.555m shares, PTCL 3.037m shares, AHSL 2.051m shares, MCB Bank 2.001m shares namely. Wyeth Pak topped the gainer’s list with a gain of Rs40/share to close at Rs1,265, Siemens Pak Engineering added Rs21.90/share and its value was increased to Rs1,350.90, Indus Motors up by Rs10.13/share, closing at Rs217.76, Grays of Camb gained Rs7/share and closed at Rs147.07, Pak Services added Rs6.75/share to close at Rs141.79 with the trading of only 2 shares.
Conversely, Unilever Food lost Rs68.86/share and closed at Rs1,376.02, Lakson Tobacco shed Rs14.24/share and its total value was decreased to Rs284.26, Fazal Textile down by Rs11/share to close at Rs399 with the trading of only 1 share, Nestle Pak lost Rs6.38/share, closing at Rs1,200.01, Thal Industries shed Rs4.94/share and closed at Rs93.94.
“With economic concerns still lingering and exit strategy being followed by offshore participants low volumes and shallowness at the local equity markets continue to suggest a confined upside”, stated analyst Hasnain Asghar Ali adding, for the vacuum created by the dollar injection, between the prevailing rate of the main board stocks and local strength, to clear off, the desired adjustment might force wiping off, of good some from the benchmark, to finally allow locals to comfortably accumulate main board stocks.

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