KARACHI – The Karachi stock market witnessed mixed activity on the last trading day of the fiscal year 2011-12.
Stock analyst Ahsan Mehati said, “Stocks closed lower amid concerns for global markets uncertainty. Thin trade was witnessed. Rising political uncertainty, fall in FX reserves played a catalyst role in bearish sentiments despite hopes for improvement in Pak-US ties.”
KSE-Allshare index lost 5.24 points or 0.05 percent to end the day at 9708.31 points, KSE 30-share index decreased by 10.08 points or 0.08 percent to conclude the trading session at 11922.13 points while KMI 30-share index shed 13.33 points or 0.06 percent to end at 23776.48 points.
Equity dealer at Topline Securities Samar Iqbal said fertilizer stocks remained in the limelight after confusing news regarding increase in gas prices. Market heavy weight OGDC performed well and its share price increased by Rs.1.80.
Market traded 74.047 million shares after opening at 63.362 million shares and the value of traded shares climbed to Rs 3.038 billion from Rs 2.304 billion while the market capitalization settled at Rs 3.518 trillion from Rs 3.520 trillion of the previous day.
Among the 447 active stocks on Friday, 109 were gainers while 147 closed in minus column. Another 191 stocks remained intact. Unilever Food was the heaviest loser of the day, shed Rs 130.61 to Rs 2619.39, followed by Nestle Pakistan Limited, off Rs 69.39 to Rs 4014.85. UniLever Pak and Attock PetroleumXD were the top prize gainers of the day, increased by Rs 60.65 to Rs 7078.84 and 9.32 to Rs 474.37.
Fauji Ferilizer was the top traded company of the day with 6.330 million shares, off Re 0.89 to stop at Rs 111.05. Fatima Fertilizer Company was on the second position with 5.499 million shares, added Re 0.11 to lock the day at 24.67. It was followed by Soneri Bank Limited, JS.Comapny, National Bank Pakistan, Lotte PakPTA. Bankislami Pakistan, Engro Foods Limited, D.G.K. Cement and Al-Abbas Cement with turnover of 5.619 million, 3.741 million, 3.260 million, 3.215 million, 3.039 million, 2.550 million, 2.459 million and 2.194 million shares respectively.
Expert said market remained ranged-bound during the week amid down fall in global stocks and commodity markets. Another key highlight was US-Pak relationship on NATO supply.